The UK government plans to expand existing financial regulation to cover crypto companies from October 2027 and legislation for the process will be presented to parliament on Monday.
The bill will undergo few changes from the bill published in April, which established the framework for cryptocurrency exchanges and the issuance of stablecoins, a Treasury spokesperson said, according to Reuters.
By extending existing financial services rules to cryptocurrencies, the UK would be emulating the US approach, unlike the European Union (EU), which introduced a regime, the Crypto Asset Markets regulations, specifically for the industry.
Last month, the Bank of England (BOE) proposed a regulatory regime for the supervision of stablecoins, which is open for consultation until February 2026.
Chancellor Rachel Reeves said the regulation would offer “clear rules of the road” while keeping “dubious actors” out of the market.
Treasury did not immediately respond to CoinDesk’s request for additional comment.
