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The UK is planning to bring cryptocurrency into its financial regulatory system, to be implemented by 2027 at the latest.
BlockBeats News, December 15th, the UK government plans to fully integrate cryptocurrency into the existing financial regulatory framework by no later than 2027. The UK Treasury will submit relevant legislation to Parliament, aiming to formally place crypto businesses under the oversight of the Financial Conduct Authority (FCA) by October 2027 at the latest.
UK Chancellor of the Exchequer Rachel Reeves stated that bringing the crypto industry into the regulatory fold is a key step in strengthening the UK's position as a global financial center in the digital age, helping to provide clear rules for businesses, protect consumers, and keep bad actors out of the UK market.
In April of this year, the UK Treasury released a regulatory draft that proposed to bring crypto exchanges, brokers, and intermediaries "into the regulatory perimeter." The new legislation will bring crypto assets closer to traditional financial products in terms of regulation. Currently, UK crypto businesses mainly need to register with the FCA, with a focus on regulating anti-money laundering risks. UK Economic Secretary Lucy Rigby stated that this legislation is a significant milestone in the UK's digital asset policy, aiming to "lead the way in the adoption of digital assets globally," and emphasizing that the new rules will balance growth, innovation, and consumer protection.
Furthermore, this legislation is also seen as a step towards alignment with the direction of crypto regulation in the United States. The UK and the US established a working group in September last year to explore cooperation in the field of crypto regulation. The crypto regulation roadmap released by the FCA last month shows that the UK plans to finalize rules in the stablecoin, exchange platform, and DeFi sectors by the end of 2026.
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WEEX P2P update: Country/region restrictions for ad posting
To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.
I. Overview
When publishing P2P ads, advertisers can now set the following:
Allow only counterparties from selected countries or regions to trade with your ads.
With this feature, you can:
Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.
II. Applicable scenarios
The following are some common scenarios:
Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.
III. How to get started
On the ad posting page, find "Trading requirements":
Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.
When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:
If you encounter this issue when placing an order as a regular user, try the following solutions.
Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.
IV. Benefits
Compared with ads without country/region restrictions, this feature provides the following improvements.
Aspect
Improvement
Trading security
Reduces abnormal orders and fraud risk
Conversion efficiency
Matches ads with more relevant users
Order completion rate
Reduces failures caused by incompatible payment methods
V. FAQ
Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.
Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.
Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.
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