{"id":24395,"date":"2025-04-29T18:16:59","date_gmt":"2025-04-29T18:16:59","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=24395"},"modified":"2025-04-29T18:16:59","modified_gmt":"2025-04-29T18:16:59","slug":"no-license-no-crypto-uks-new-law-makes-bitcoin-staking-and-exchanges-illegal-overnight","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=24395","title":{"rendered":"No License, No Crypto: UK\u2019s New Law Makes Bitcoin, Staking, and Exchanges Illegal Overnight"},"content":{"rendered":"<div>\n<p>In a landmark move, the UK government published a draft of crypto legislation that would officially integrate crypto into the traditional financial system. Not everyone will be celebrating.<\/p>\n<p>The new Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025 <a class=\"general-link\" href=\"https:\/\/assets.publishing.service.gov.uk\/media\/680f6387faff81833fcae94b\/0302425_draft_RAO_SI.pdf\" target=\"_blank\" rel=\"noopener nofollow\">lays out an aggressive framework<\/a>, formally making crypto trading platforms, stablecoin issuers, custodians, and staking providers regulated financial activities.<\/p>\n<p>Companies involved will now require full authorization from the Financial Conduct Authority (FCA) \u2014 or risk operating illegally.<\/p>\n<div class=\"chart crypto-chart-instance\" id=\"crypto_chart_681116c17bb09\" data-coin-id=\"btc-bitcoin\">\n<div class=\"chart__header\">\n<div class=\"chart__info\">\n<div class=\"chart__info-icon\">\n                <img id=\"crypto_chart_681116c17bb09-chart__info-icon-img\">\n            <\/div>\n<div class=\"chart__info-name\" id=\"crypto_chart_681116c17bb09-chart__info-name\">&#8211;<\/div>\n<div class=\"chart__info-label\">Price<\/div>\n<div class=\"chart__info-label\">Market Cap<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_681116c17bb09-chart__info-symbol\">&#8211;<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_681116c17bb09-chart__info-price\">&#8211;<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_681116c17bb09-chart__info-marketcap\">&#8211;<\/div>\n<\/p><\/div>\n<div class=\"chart__controls\">\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--24h\" id=\"crypto_chart_681116c17bb09-btn-24h\">24h<\/button><br \/>\n                <button class=\"chart__button chart__button--7d\" id=\"crypto_chart_681116c17bb09-btn-7d\">7d<\/button><br \/>\n                <button class=\"chart__button chart__button--30d\" id=\"crypto_chart_681116c17bb09-btn-30d\">30d<\/button><br \/>\n                <button class=\"chart__button chart__button--1y\" id=\"crypto_chart_681116c17bb09-btn-1y\">1y<\/button><br \/>\n                <button class=\"chart__button chart__button--all-time\" id=\"crypto_chart_681116c17bb09-btn-all-time\">All Time<\/button>\n            <\/div>\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--logarithmic\" id=\"crypto_chart_681116c17bb09-btn-log\">Log<\/button>\n            <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"chart__container\">\n        <canvas class=\"chart__canvas\" id=\"crypto_chart_681116c17bb09-cryptoChart\"><\/canvas>\n    <\/div>\n<\/div>\n<h2><strong>Keir Starmer\u2019s Crypto Power Grab: London Sets Cross-Hairs on Crypto Industry<\/strong><\/h2>\n<p>At the <a class=\"general-link\" href=\"https:\/\/assets.publishing.service.gov.uk\/media\/680f6387faff81833fcae94b\/0302425_draft_RAO_SI.pdf\" target=\"_blank\" rel=\"noopener nofollow\">heart of the new law<\/a> is power and control. The government is positioning London as a serious player on the global crypto stage \u2013 no doubt in reaction to a shift in US government policy, but by doing so, it\u2019s triggering major concerns around surveillance, cost barriers, and innovation stifling.<\/p>\n<p>At the core of the bill are several new measures. Here\u2019s what\u2019s critical in the Draft:<\/p>\n<ul>\n<li><strong>Crypto Exchanges<\/strong> must become licensed like stock exchanges.<\/li>\n<li><strong>Stablecoin Issuers<\/strong> will be treated like banks and money market funds.<\/li>\n<li><strong>Custodians<\/strong> will face strict safeguarding rules (especially for holding user wallets and private keys).<\/li>\n<li><strong>Staking Providers<\/strong> (even decentralized staking models) must register under a special new framework.<\/li>\n<\/ul>\n<p>Crucially, the legislation also extends the UK\u2019s jurisdiction internationally. If a foreign crypto platform even indirectly offers services to a British consumer, they can now be pursued under UK law.<\/p>\n<p>This \u201cdeemed in the UK\u201d provision could radically change how global crypto businesses operate \u2014 or simply force many to block British users entirely, mirroring what\u2019s happened in the U.S.<\/p>\n<p>Meanwhile, the definition of \u201ccrypto asset\u201d is stunningly broad, covering nearly all digital tokens except loyalty points, game assets, or non-transferable NFTs. Everything else, from Bitcoin to DeFi tokens, falls inside the net.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/high-risk-high-reward-crypto\/\" rel=\"\">9+ Best High-Risk, High\u2013Reward Crypto to Buy in April 2025<\/a><\/strong><\/p>\n<h2><strong>New UK Crypto Bill Stirs Controversy<\/strong><\/h2>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The UK just drafted new crypto regulation.<\/p>\n<p>&#8220;If the FCA considers [\u2026] a person has acted [\u2026] contrary to the advancement of its objectives [\u2026] the FCA may publish a statement to that effect.&#8221;<\/p>\n<p>The FCA just gave itself the right to publicly shame you WITHOUT TRIAL if it doesn\u2019t\u2026 <a href=\"https:\/\/t.co\/aA8OG1JOxV\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/aA8OG1JOxV<\/a><\/p>\n<p>\u2014 Crypto Tips (@cryptotipsreal) <a href=\"https:\/\/twitter.com\/cryptotipsreal\/status\/1917223373974671618?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">April 29, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The proposed new legislation contains several controversial points, which are already causing a grumble from crypto entities.<\/p>\n<ul>\n<li><strong>Staking Dragnet:<\/strong> Even minimal staking operations could trigger full regulation, potentially kneecapping DeFi in Britain.<\/li>\n<li><strong>Stablecoin Backing:<\/strong> Any fiat-referenced coin must follow heavy \u201cbacking asset\u201d disclosure rules, which can be a potential nightmare for algorithmic and hybrid models.<\/li>\n<li><strong>Innovation Freeze Warning:<\/strong> Smaller crypto startups may abandon the UK market rather than navigate a mountain of compliance hurdles.<\/li>\n<\/ul>\n<p>Despite a change in political leadership with Labour replacing the Conservatives, the new government has committed to completing the previous regime\u2019s \u201ccrypto asset regime\u201d plans almost in full, with no new position or reconsideration.<\/p>\n<p>Why It Matters: This isn\u2019t just another boring regulatory update \u2013 it\u2019s the start of the UK\u2019s attempt to dominate \u201cRegulated Crypto\u201d globally. However, by locking the industry into the old financial rules, Britain may also accidentally smother the Web3 revolution it hopes to host.<\/p>\n<p>Overall, the UK\u2019s crypto crackdown is a double-edged sword, offering legitimacy on one hand and a regulatory chokehold on the other. Crypto firms worldwide are now on notice: adapt, comply, or leave Britain.<\/p>\n<p><strong>DISCOVER:\u00a0<a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"noopener\">17 Next Crypto to Explode in 2025: Expert Cryptocurrency Predictions &amp; Analysis<\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/no-license-no-crypto-uks-new-law-makes-bitcoin-staking-and-exchanges-illegal-overnight\/\">No License, No Crypto: UK\u2019s New Law Makes Bitcoin, Staking, and Exchanges Illegal Overnight<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In a landmark move, the UK government published a draft of crypto legislation that would officially integrate crypto into the traditional financial system. Not everyone will be celebrating. The new Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025 lays out an aggressive framework, formally making crypto trading platforms, stablecoin [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-24395","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/24395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24395"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/24395\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}