PANews reported on December 15th that, according to The Guardian, the UK Treasury is drafting new regulations to bring cryptocurrencies under the Financial Conduct Authority (FCA) regulatory framework from 2027, subjecting them to the same regulations as other financial products. Chancellor of the Exchequer Rachel Reeves stated that this move aims to enhance transparency, boost consumer confidence, and combat illegal activities. The UK government also plans to ban the use of cryptocurrencies for political donations, addressing concerns about the unclear origins of crypto funds.