The UK plans to include cryptocurrencies under the category of financial products starting in 2027.

On the 16th local time, it was reported that the UK is expected to regulate cryptocurrencies from October 2027, modeling them after other financial products. The UK Treasury has submitted a new bill requiring cryptocurrency businesses to comply with various standards and regulations and be subject to supervision by the Financial Conduct Authority (FCA). According to the bill, all cryptocurrency exchanges, digital wallet service providers, and other institutions offering services within the scope of anti-money laundering regulations in the UK must register with the FCA and accept its management and supervision. Currently, cryptocurrencies are not included in the regulatory system like traditional financial assets such as stocks. The Treasury stated that the new regulations will help improve transparency and consumer trust in the cryptocurrency industry, while also making it easier to detect suspicious transactions. (Source: Jinse Finance)