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**UK to Follow America’s Crypto Lead**
The United Kingdom is set to follow the footsteps of its American counterpart in terms of cryptocurrency regulations. In a recent move, the UK government has announced plans to establish stricter regulations for the crypto market.
According to sources, the proposed legislation will require crypto exchanges and brokers to register with the Financial Conduct Authority (FCA), similar to traditional financial sectors such as investment banking and insurance. This move aims to increase transparency and security in the crypto market.
In addition, decentralized finance (DeFi) projects without a central controlling party will be exempt from these requirements. This decision is seen as a significant win for DeFi enthusiasts, as it allows them to continue operating without unnecessary regulatory burdens.
The UK’s new approach follows a similar trend established by the US Securities and Exchange Commission (SEC). The SEC has been increasingly cracking down on unregistered crypto platforms and projects, leading many to assume that other countries will follow suit.
As the global cryptocurrency landscape continues to evolve, it remains to be seen how this decision will impact the UK’s already growing crypto community.
Source: https://u.today/uk-to-follow-americas-crypto-lead
