UK Treasury to Introduce Crypto Regulatory Framework by July to Boost Innovation and Enhance Oversight

The United Kingdom’s Treasury is set to unveil a regulatory framework for cryptocurrencies and stablecoins by July, aiming to boost local innovation in the digital assets and blockchain sectors. This announcement was made by the U.K.’s economic secretary to the Treasury, Bim Afolami, at the Innovate Finance Global Summit (IFGS) 2024. During his address, Afolami emphasized the strategic importance of introducing crypto regulations to maintain the U.K.’s competitiveness on the global stage. He stated, “Speaking of true change, I know that the cornerstone of our position as a world leader in fintech is the delivery of our regulatory regime for