After its partial victory against the U.S. SEC, Ripple filed for FCA registration as a crypto asset firm in the United Kingdom.
More crypto firms are looking to the United Kingdom for regulatory clarity and a supportive business environment amid a wave of enforcement actions carried out by the SEC in the United States.outside the U.S. in London, following “months of constructive conversations” with policymakers and the FCA, and citing a “predictable business environment” as a key reason for expanding overseas.
Several legislations have been introduced in the British parliament aimed at setting up a crypto-regulated environment in the U.K. In June, a billapplied to traditional assets was signed into law after receiving King Charles’ royal assent. The new law gives the Treasury, Financial Conduct Authority , Bank of England and Payments Systems Regulator authority to introduce and enforce regulations for crypto businesses.
In another recent development, lawmakers in the upper house discussed drafts of a legislation seeking to expand authorities’ ability to target cryptocurrencies used for illicit purposes. The bill includes provisions for authorities
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