[DigitalToday reporter Chi-gyu Hwang (황치규)] Britain has completed an overhaul of cryptocurrency regulation, Cointelegraph reported on Jan. 27 local time. It contrasts with the situation in the United States, where the “Clarity Act” has been delayed by political conflict.

Britain’s Financial Conduct Authority (FCA) has confirmed regulations for the cryptocurrency industry after proposing 10 regulatory measures over three years from 2023 and collecting a range of opinions. The final rules are due to be fully implemented by October 2027.

A key difference with the United States is the regulatory approach. Britain centrally manages cryptocurrency through the FCA. In the United States, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are involved, alongside state-by-state regulation, creating a complex structure. In stablecoin regulation, Britain applies a single national framework, while the United States requires federal and state licences.

The European Union has also introduced the Markets in Crypto-Assets (MiCA) regulation, but Britain differentiates itself by applying existing financial regulations to cryptocurrency. Cointelegraph reported this costs more but could be favourable for attracting institutional investment.