The new regulatory regime covers trading, storage of crypto assets, and staking. Companies are required to comply with:
- capital and transparency,
- protection of consumer rights,
- operational sustainability.
Stablecoins will be classified as securities, not as electronic money.
- Tokens issued in the UK must meet strict requirements
- Foreign stablecoins – only through regulated platforms
To operate in the country, companies will need a license from the FCA (British financial regulator)
Bitget:
"Now it is clear what types of activities need to be licensed"
"But the exemption from the EMR could slow down the use of stablecoins in payments"
Lawyers: The UK has opted for a tough approach to both securities, as opposed to the more lenient MiCA regime in the EU.
