news 
**UK to Follow America’s Crypto Lead**
In a significant move, the United Kingdom is set to follow in the footsteps of its American counterpart by introducing stricter regulations in the cryptocurrency market. The proposed legislation aims to bring crypto exchanges and brokers under the purview of traditional financial authorities, much like their US counterparts.
Under the new regime, “qualifying cryptoassets” and “qualifying stablecoins” will be classified as specified investments, requiring authorization from the Financial Conduct Authority (FCA). This means that crypto exchanges and brokers operating in the UK will need to obtain regulatory approval before offering their services. Notably, decentralized finance (DeFi) projects with no central controlling party will not be subject to these new requirements.
The move is expected to bring much-needed clarity and transparency to the UK’s rapidly growing crypto market. While some may view this as a step back in terms of innovation and freedom, proponents argue that it will help to protect investors from potential risks and scams.
It’s worth noting that the regulatory environment has been evolving globally, with many countries taking a more proactive approach to governing the cryptocurrency space. The UK’s move is seen by many as a significant development, particularly given its position as a major global financial hub.
In related news, XRP has surged in value after a sharp increase in hot capital, while Bitcoin has seen a notable surge in its hash rate.
Stay tuned for more updates on the crypto market and regulatory landscape.
Source: https://u.today/uk-to-follow-americas-crypto-lead
