Bloomberg: The UK government will announce its cryptocurrency industry regulation plan this month

ChainCatcher news, according to Bloomberg, the UK government will announce its plans to regulate the cryptocurrency industry this month, aiming to address the appeal of the cryptocurrency sector led by Donald Trump in the United States and to reassure businesses about their prospects in the UK.

Insiders say that the UK Treasury plans to introduce two pieces of legislation regarding stablecoins, as well as exemption clauses for cryptocurrency providers requesting to exclude so-called staking services from current financial regulations.

After Trump's election victory, the cryptocurrency industry celebrated this win, driving up asset prices including Bitcoin, while the UK decided to advance cryptocurrency regulation. The risk for the UK is that startups may choose other jurisdictions, such as the United States, where the rules are clearer or more favorable.