UK to regulate crypto industry

Regulation in cryptocurrency market is not a new matter instead it is something that we often see happening from a lot of countries. A few countries have already given it enough time and they are now in the process of bringing the regulation for the crypto.

While there are some countries that are already in the process of bringing the regulation inceptor market and Britain is also the one in the list. The country is all set to bring the regulation in Crypto industries in United Kingdom and probably that is going to happen soon. I believe that regulations are good provided they are not built to stop the Crypto industry growth.

Britain plans to bring crypto exchanges and dealers under compulsory regulation for the first time under new draft laws announced by finance minister Rachel Reeves on Tuesday to regulate the crypto-asset industry.

UK is one of the biggest market for cryptocurrency were more than 12% youngsters are holding crypto assets. Because the count is growing and a lot of people are adopting so having regulation is also necessary. Regulation should basically to help consumers from the unfair practices followed by crypto companies.

There is no specific timeline that I will shared by the country however as per the latest update the regulations are expected to happen very soon and it will not be a surprise if it's all become a reality within this year.

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