TechFlow reports, according to CoinDesk, that Tulip Siddiq, the UK's Economic Secretary, announced at the City & Financial Global Tokenisation Summit in London on November 22, 2024, that the UK plans to launch a regulatory framework for the cryptocurrency industry in early 2025. The new framework will separate stablecoins from the existing payment system and introduce specific regulations for staking services, aiming to prevent them from being classified as collective investment schemes.
This move ends market uncertainty regarding the direction of cryptocurrency regulation since the Labour government took office in July 2024. Previously, the Conservative government had already included cryptocurrencies within the scope of regulated activities under the Financial Services and Markets Act.
