Thread by @CryptoKingKeyur

🚨 BREAKING: 🇬🇧 UK Parliament Approves #Crypto Regulation Bill 🔥

Stablecoins and all cryptocurrencies set to be regulated 💥

Massive implications for the crypto industry 🚀

A thread 🧵

1️⃣ The Financial Services and Markets Bill (FSMB) is racing through the UK Parliamentary process, and stablecoins and #crypto are about to face a whole new era of regulation.

2️⃣ The FSMB has just been approved by the House of Lords, following its prior endorsement by the House of Commons.

👉 Now, it's heading into the final stages before becoming law: Consideration of Amendments and Royal Assent.

3️⃣ Consideration of Amendments means that both Houses will give the bill one last thorough reading.

👉 The House of Commons will propose amendments, and the House of Lords will decide whether to accept or reject these changes.

4️⃣ Once the bill clears all the hurdles, it will undergo the prestigious Royal Assent.

👉 Picture this: the King himself giving a nod of approval, making the bill official and binding.

👉 It's a historic moment in the making!

5️⃣ The clock is ticking, and it won't be long before the 340-page document transforms into law.

6️⃣ The original bill targeted only stablecoins.

👉 Amendments have broadened its scope to include ALL #crypto as regulated activities.

👉 Plus, they even threw in crypto promotion supervisions for good measure.

https://twitter.com/cryptokingkeyur/status/1666711558251253761

7️⃣ Andrew Griffith, the Economic Secretary to the Treasury, spilled the beans in an interview with CNBC.

👉 He predicts #crypto-specific regulations within the next 12 months, with the UK aiming to become a global cryptoasset technology hub.

8️⃣ The EU recently implemented its own Markets in #Crypto Assets (MiCA) regulations.

https://twitter.com/cryptokingkeyur/status/1658420076369018880

9️⃣ The UK is about to embark on an epic #crypto adventure with groundbreaking regulations.

👉 The world will be watching as the crypto landscape transforms.

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https://twitter.com/cryptokingkeyur/status/1671122224210903041