#DigitalAssetBill

The UK government published a draft law regulating cryptocurrencies, such as bitcoin, this week.

The publication was announced by Chancellor of the Exchequer Rachel Reeves in her opening speech at the Innovate Finance Global Summit ("IFGS 2025" – April 29).

The draft law is a result of consultations by Her Majesty's Treasury in 2023, during which a wide range of activities related to crypto assets, including cryptocurrency exchanges and custodial services, were proposed to be included under the regulation of financial services in the UK.

"I am pleased that we are publishing the draft law today regarding a comprehensive UK regulatory system for crypto assets, working together with all of you to ensure that the final regulations – planned for the end of this year – will benefit the government, and most importantly, the industry, and make the UK a great place to invest and innovate for digital asset companies," Reeves said in her speech.

The UK is lagging behind the European Union (EU) – which the country left in January 2020 – in regulating cryptocurrencies. The landmark regulation of the 27-member bloc on crypto asset markets (MiCA) (short for MiCAR) came into effect in December 2024.