Great Britain included digital assets in the bill on financial markets

The UK parliament introduced a draft law on financial services and markets, which included the regulation of cryptocurrencies and other digital assets.

In general, the changes proposed by the Treasury of Her Majesty are aimed at “increasing the country’s competitiveness as a world financial center” against the backdrop of the exit from the EU.

The document defines “digital calculation assets” (DSA) as a digital representation of value or law (regardless of cryptographic protection), which can:

• used to resolve payment obligations;
• transmit, stored or traded in electronic form;
• and also uses a technology that supports or storage of data (including DL T).

Among the providers of the DSA sector services, issues of assets, casteral services (including private keys), trade and exchange platforms are listed in the bill.

The initiative provides for appropriate amendments to the law on banking, as a result of which the participants in the digital assets market will fall under its norms.

The Treasury will be able to offer new rules after consultations with the SEC. Regulation Bank of England and the financial supervision department.

Recall that in July the Contribrobank Trinocial Bank, John Cansliff proposed regulating cryptocurrencies by analogy with traditional finances.

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