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UK DECIDES TO ALIGN WITH US RATHER THAN EU OVER CRYPTO REGULATION: INTRODUCES NEW RULES
Amidst fear of losing ground to global fintech hubs, the UK has announced new draft regulations for the crypto sector.
On 29 April 2025, Finance Minister Rachel Reeves said, “Through our Plan for Change, we are making Britain the best place in the world to innovate – and the safest place for consumers. Robust rules around crypto will boost investor confidence, support the growth of Fintech and protect people across the UK.”
The UK government is now introducing compulsory regulation for crypto exchanges, dealers, and agents.
Importantly, the UK has decided to align with the US, treating crypto assets as securities. This marks a departure from the EU’s Markets in Crypto-Assets (MiCA) framework, which took effect in December 2024.
“The Chancellor also revealed that the UK and US will use the upcoming UK – US Financial Regulatory Working Group to continue engagement to support the use and responsible growth of digital assets,” the UK government website said.
The government aims to finalize the legislation by the end of 2025.
UK’s Clear New Rules To Boost Investor Confidence
Furthermore, the Chancellor also revealed that discussions with the US about supporting the use and responsible growth of digital assets are underway, as the government works in national interest to drive growth through Plan for Change.
The Chancellor also announced that the government will publish the first-ever Financial Services Growth and Competitiveness Strategy on 15 July, alongside her Mansion House speech. This will support the financial services sector’s long term growth, with Fintech identified as a priority sector, and help it finance investment and growth across the UK.
Around 12% of UK adults now own or have owned crypto, up from just 4% in 2021.
Industry Leaders Urge UK To Address Urgent Concerns Around Regulation, Funding, Innovation
Despite the government’s efforts, several fintech and crypto executives have expressed concern that the UK is losing its competitive edge.
“I think the UK will get it right — but there is a risk if you get it wrong that you drive innovation to other markets,” Keith Grose, Coinbase’s UK head, revealed CNBC on 30 April 2025.
Meanwhile, Jaidev Janardana, CEO of digital bank Zopa, weighed in too. “If I consider the pace of innovation, I believe the US is currently ahead – despite its own set of challenges. Yet, when you look at places like Singapore and Hong Kong, there is significantly faster innovation,” he said.
Tim Levene, CEO of venture capital firm Augmentum Fintech, said, “We’re scrambling around looking for pots of capital in the UK, where currently it would be more fruitful to go to the Gulf, to go to the US, to go to Australia, or elsewhere in Asia, and that that doesn’t feel right.”
@ Newshounds News™
Source: 99Bitcoins
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BRICS MAY PUSH GOLD PRICE TO $6,000 AS US TRADE WAR TALKS PERSIST
With continued geopolitical unrest, the rush to haven assets has been an undeniable reality. That could benefit one economic alliance that has sought out a US dollar alternative for much of the last year. Indeed, the BRICS alliance may push the gold price to heights of $6,000 as talks of an impending US trade war persist.
Since its unveiling of sweeping global tariffs in early April, tension between the US and China has reached a fever pitch. Moreover, that has created increased conflict within the alliance itself, as the group has recently failed to deliver a joint statement. Yet, all eyes are on gold, as the developments could only fuel the asset that BRICS nations have purchased rampantly throughout the last year.
BRICS May Push Gold to New Heights Amid US Tensions
Since he emerged victorious in the 2025 US presidential election, Donald Trump has expressed his issues with the BRICS alliance. He threatened 150% tariffs on the bloc for their role in global de-dollarization efforts. Although that didn’t come to fruition, China is facing import duty increases of up to 245% amid its recent roll-out of America-first trade policies.
These could only strengthen the Global South collective, however, as the policy reshapes the international economy. Indeed, the BRICS bloc may push the gold price to $6,000 as talks of a US trade war persist.
US Global Investors CEO and executive chairman of Hive Digital Technologies, Frank Holmes, recently discussed gold’s potential. “I think the goal should be going to $6,000 over the term for President Trump,” Holmes said. “If the tariffs go up 25%, then the dollar has to go down 25%,” Holmes added.
The expert was articulating the reality that the ongoing economic policy and the greenback have an adverse relationship. Since he entered office, the US dollar has plummeted 10% over the first 100 days of Trump. Moreover, BRICS, and China specifically, have ramped up gold buying.
The People’s Bank of China has been the largest covering buyer of gold for more than five straight months. Moreover, in Q1 alone, it added 27 tonnes to its reserves, making it the largest holder in modern history. Trading at the $3,300 level, there is room for the asset to skyrocket, especially if the Trump tariff plan is resumed in the coming month.
@ Newshounds News™
Source: Watcher Guru
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