PANews reported on April 29 that according to the policy statement and draft documents released by the UK Treasury today, the new regulations intend to include cryptocurrency trading platform operations, stablecoin issuance, custody services, pledges, market making and matchmaking activities under the Financial Services and Markets Act 2000, requiring crypto companies serving UK retail customers to be approved in the UK. The new regulations clarify the definitions of "qualified crypto assets" and "qualified stablecoins", and make supporting amendments to transparency, anti-money laundering, financial promotion, etc. Stablecoins will not be included in payment regulations for the time being. The Ministry of Finance expects to complete legislation within 2025.