TechFlow news — The UK government will unveil its plans to regulate the cryptocurrency industry this month, aiming to counter the appeal of a Donald Trump-led U.S. for crypto businesses and reassure companies about the prospects of operating in Britain, according to Bloomberg News.
People familiar with the matter said the UK Treasury is preparing two pieces of legislation on stablecoins, as well as exemptions that would exclude so-called staking services provided by crypto firms from existing financial regulations.
The UK's move comes as the cryptocurrency industry celebrated Trump’s election victory, which helped drive up prices of assets including bitcoin. For Britain, the risk is that startups may choose other jurisdictions such as the U.S., where rules are clearer or more favorable.
