The bill looks to place bitcoin and digital assets under existing financial instrument law enabling existing regulatory infrastructure to build a framework.
- The Financial Services and Markets bill passes the House of Commons, heads to the House of Lords.
- Draft bill seeks to establish digital assets, such as bitcoin, as regulated financial instruments.
- Lawmakers are consulting with stakeholders and industry leaders throughout the process.
Legislators in the U.K. voted to recognize bitcoin and digital assets as regulated financial instruments earlier today, per a report from CoinDesk.