On Tuesday, lawmakers in the United Kingdom voted to recognize crypto assets as regulated financial instruments and products in the country. The House of Commons, the lower house of Parliament, convened on Tuesday for a line-by-line reading of the planned Financial Services and Markets Bill, which covers the UK’s post-Brexit economic policy in broad strokes. The legislators deliberated on a series of proposed amendments to the bill, including one proposed by parliamentarian Andrew Griffith to include crypto assets in the purview of the country’s regulated financial services. The draft bill already included provisions to expand existing restrictions to payments-focused stablecoins, which are cryptocurrencies that are tethered to the value of other assets such as the US dollar or gold.
