The cryptocurrency industry will soon be regulated in the UK
that the Bank of England had begun working on Britain's first regulatory framework.
For now, cryptocurrencies remain mostly unregulated despite experiencing substantial growth in the UK and other countries over the past year. Despite the proliferation of crypto, the BoE's Financial Policy Committee concluded that it was yet to threaten the country’s financial stability. However, the unbridled growth of crypto could become riskier in the future.Last year, BoE Governor Andrew Bailey described cryptocurrencies as “dangerous.”
The U.K. is, of course, far from being the only country that is currently working on regulating the cryptocurrency sector. U.S. President Joe Biden recently published the country’s long-awaited executive order that was widely praised by members of the cryptocurrency industry despite lacking clarity on some key points.
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