Chancellor Rachel Reeves has announced plans to regulate cryptocurrency assets in the UK after being influenced by President Trump’s administration’s view on crypto adoption.
A new regulatory draft will give cryptocurrency companies in the UK similar regulations to traditional financial firms in a push to make the UK a leader in digital assets.
In relation to crypto in the UK, Algorand Foundation CEO Staci Warden is a member of APPG for Blockchain Technologies, an All-Party Parliamentary Group for blockchain in the UK.
Rachel Reeves to introduce crypto regulations in the UK in collaboration with pro-crypto US
Chancellor of the Exchequer, Rachel Reeves, discussed cryptocurrencies and blockchain technologies with Treasury Secretary Scott Bessent during a US visit last week, according to Reuters.
During the discussion, the UK and US made plans to conduct further cryptocurrency talks in June 2025 as part of a larger collaborative effort for crypto adoption in the West.
Inspired by the talk, on April 28, Reeves announced a new draft of legislation that will regulate crypto companies in the UK, aligning them with fair, clear rules and testing the industry more seriously.
From the Finance Ministry:
“Under the new rules, crypto exchanges, dealers, and agents will be brought into the regulatory perimeter – cracking down on bad actors while supporting legitimate innovation.”
The new laws, which will take effect this year, will give cryptocurrency companies based in the UK newfound freedoms and legitimacy.
The adoption of new rules is part of a wider effort to make the UK a leader in digital assets and to beat the European Union, who have so far been opposed to the adoption of certain crypto policies.
At a fintech summit on April 29, 2025, Reeves said: “For the UK to be a world leader in digital assets, international cooperation is vital.” Part of the UK’s new rules will include a new transatlantic working group to support digital asset adoption.
Algorand Foundation’s Staci Warden on advisory board of British Blockchain Association
Algorand Foundation CEO Staci Warden is a member of APPG, an advisory board of the British Blockchain Association.
The APPG aims to bring parliamentarians together to discuss blockchain technology and how best to adopt crypto and create new frameworks for digital asset adoption in the UK.
In the past, the Algorand network has been tested for payment solutions by the European Union. Since then, Algorand creator Silvio Micali announced the Fiat Chain, a new network designed for institutional use cases and stablecoin solutions.
