UK plans close to cooperation with the United States on Crypto Regulation

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Great Britain will exempt Stabulecoin emitters abroad to comply with their new cryptocurrency rules, as ministers are committed to closer co -operation with the United States in regulating the global market emerging digital assets.

Proposals, established by Chancellor Rachel Reeves Tuesday, are part of the first UK attempt to write rules for CRIPto assets And it reflects the attempts of Britain to forge a technological collaboration with the United States.

Reeves discussed the narrowest technological cooperation with his American counterpart Scott Bessent in Washington last week, along with movements for a wider trade agreement, aimed at reducing rates. “The conversations continue,” a British official said.

The new rules will cover the exchanges and runners, market practices such as the crypt loan and the new execution powers for the Financial Conduct Authority, the main financial regulator in the United Kingdom, said the treasury in a policy document.

The push of Britain to regulate the Crypt assets Ends a regulatory repression And offer a more favorable approach to the industry that made America “the crypt capital of the world.”

In a speech to the global summit Innovate Finance in London, Reeves said that “robust rules” around Crypto “would promote investors’ confidence, support the growth of Fintech and protect people in the United Kingdom.”

“Today’s announcement sends a clear signal: Britain is open to business, but closed to fraud, abuse and instability,” he added.

The UK Crypt Sector is likely to host the legislation project. It has been frustrated by the FCA rejection of almost nine of the ten recent applications of crypt providers to register as a fulfillment of the rules against money laundering.

Laura Navaratnam, leading the United Kingdom policy to the Crypto Council for Innovation, a commercial body, said that the announcement was “a great milestone for Stablecoins and other crypt assets more generally in the United Kingdom.”

“The focus now passes to the regulators, with the FCA that is expected to be consulted shortly on the regulation of Stablecoins with Fiat support.”

An ally of Reeves said that the Chancellor and Treasure Secretary, Bessent, last week “spoke of trade, but also about strengthening the economic relationship of the United Kingdom-EUA beyond the rates, including technology and financial services.” The person added: “This is the first result.”

Lord Peter Mandelson, a United Kingdom ambassador to Washington, is pressing to agree on a United Kingdom technology association with any commercial agreement to reduce rates on both sides of the Atlantic.

Last week’s envoy hosted an event of digital assets to his residence to coincide with Reeves visit to Washington for the spring meetings of the IMF and the World Bank.

Nick Price, a member of the Osborne Clarke law firm in London, said that the United Kingdom approach “seems more aligned with the United States, carrying crypt assets on the existing regulatory perimeter instead of developing personalized legislation for them.”

The plans, which will be in consultation for a month, the issuers proposed in Stablecoins should not be authorized in the United Kingdom, unless the issuer was headquartered in Britain.

The sheets, which have become one of the most active corners of the world cryptographic markets, are designed to maintain a constant value against a sovereign currency like the North -American dollar, but are sat outside the regulated banking system.

About 240 million dollars of staboins are in circulation, issued by El Salvador Taigada And the United States Enclose.

Reeves discussions with Bessent last week treated “ideas on how we could allow greater collaboration in digital values ​​between the United Kingdom and the United States”, including a transatlantic “sandbox” that would allow start-ups to try new business ideas for digital values ​​in a lighter regulatory framework.

North -Americans are expected to approve the rules of Stablecoin this year that they will open the door for Big Wall Street and Silicon Valley technology to enter the market, but will stop force abroad to establish in America.

The planned regulation of the United Kingdom in the United Kingdom contrasts with the strictest EU approach, which came into force in December.

Brussels requires “significant” stable to comply with difficult rules on liquidity and reserves and recovery and redemption plans: criteria that led some crypto companies to remove from the blog.