The UK government plans to extend existing financial regulations to crypto companies from October 2027 and legislation relating to the process will be presented to Parliament on Monday.
The bill will be little changed from the bill published in April, which set out the framework for crypto exchanges and the issuance of stablecoins, a Treasury spokesperson said, according to Reuters.
By extending existing rules on financial services to cryptocurrencies, the UK would emulate the US approach, unlike the European Union (EU), which introduced a regime, the regulation of crypto asset markets, specifically for the sector.
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 regulations would provide “clear rules of conduct”, while keeping “dubious actors” out of the market.
Treasury did not immediately respond to CoinDesk’s request for additional comment.
