The UK government is set to extend current financial regulations to encompass cryptocurrency firms starting in October 2027, with legislation expected to be presented to parliament on Monday.
A treasury spokesperson informed Reuters that the bill will largely mirror the draft legislation released in April, which established the framework for crypto exchanges and stablecoin issuance.
By expanding existing financial services rules to include crypto, the UK aims to follow a path similar to that of the US, contrasting with the European Union (EU), which has implemented specific regulations known as the Markets in Crypto Assets framework.
Last month, the Bank of England (BOE) proposed a framework for the regulation of stablecoins, inviting public consultation until February 2026.
Chancellor Rachel Reeves emphasized that the regulations would provide “clear rules of the road” while excluding “dubious actors” from the market.
The Treasury has yet to respond to CoinDesk’s request for further comments.
