The United Kingdom’s cryptocurrency landscape is undergoing significant changes as it aligns with the Financial Services and Markets Act. This pivotal development, marking a substantial shift in regulatory approach, aims to apply rigorous standards, akin to those in traditional financial services, to firms operating with cryptocurrencies and stablecoins.
Cryptocurrency exchanges like Coinbase, Crypto.com, and Gemini have already initiated measures in response to these new regulations. They have introduced risk assessments and finance tests for users in the UK, which include a declaration about their investor profile and a related questionnaire.
