The UK has presented a consultation paper on crypto asset regulation aimed at protecting investors, combating financial crime and supporting innovation. The main proposals include licensing of crypto exchanges, increased control over stablecoins (including reserve requirements), and a clear definition of regulated activities.

The document emphasizes the need to balance security and the development of the crypto market. The authorities want to minimize the risks of fraud and money laundering, but at the same time maintain the country's attractiveness for blockchain startups. The discussions will last several months, after which the final rules will be formed, which may come into force in the coming years.

The move underlines the UK’s ambition to become a global digital asset hub, following the example of the EU (MiCA) and the US, but taking into account national specifics. Regulators are keen to avoid excessive restrictions that could hinder innovation.