UK Government Targets Exchanges and Stablecoins With New Draft Crypto Rules

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By Camomile Shumba|Edited by Oliver Knight

Updated Apr 29, 2025, 2:00 p.m. Published Apr 29, 2025, 2:00 p.m.

The U.K. government released consultation papers on crypto legislation on Tuesday.
It sees the creation of new regulated activities, such as operating a crypto exchange and stablecoin issuance.

The U.K. government released its consultation papers on draft legislation for the crypto sector.

“This will see the creation of new regulated activities such as operating a cryptoasset trading exchange and stablecoin issuance, as well as market abuse and admissions and disclosures regimes,” the Governments website said on Tuesday.

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The country launched a consultation on the crypto regime when the Conservatives were still in power in 2023, despite Labour coming into power last year, its former Economic Secretary Tulip Siddiq said that the Government intended to ensure that most of all the previous governments crypto plans will be fulfilled.

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner.

Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.