🇬🇧 On April 29, 2025, the UK Treasury announced the release of a draft Statutory Instrument (SI) and a Policy Note detailing the UK’s upcoming financial services regulatory framework for cryptoassets, including stablecoins. Following proposals outlined in October 2023 and reaffirmed in November 2024, the draft SI establishes new regulated activities, such as operating cryptoasset trading platforms and issuing stablecoins, mandating authorization and oversight by the Financial Conduct Authority (FCA). The Policy Note clarifies the intended policy outcomes, with additional provisions for market abuse and admissions and disclosures regimes to follow. The UK Treasury welcomes technical feedback on the draft SI until May 23, 2025, to refine the regulations. What are your thoughts on the UK's approach to regulating cryptoassets?