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UK Government Minister Calls for 'Proportionate' Crypto Rules

John Glen, the U.K. minister who oversees the financial sector, says regulation could lead to "a stable, flourishing" crypto exchange in London.

Автор Leigh Cuen
Обновлено 13 сент. 2021 г., 7:44 a.m. Опубликовано 26 мар. 2018 г., 2:30 a.m. Переведено ИИ
London UK

The U.K.'s City Minister, John Glen, told reporters at the Treasury's International Fintech conference on Thursday that "proportionate" regulations could give the local cryptocurrency industry a significant boost.

In his comments, Glen said the government is still "engaged in trying to find the right narrative and the right level of regulation if that's appropriate," according to Business Insider.

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The minister continued, saying:

"Regulation could be an enabler of a stable, flourishing cryptocurrency exchange in the City of London."

Notably, the minister acknowledged that the current level of cryptocurrency trading and related activities is "not posing any significant risk to the UK economy."

That same day, Chancellor Philip Hammond announced the establishment of a new “cryptocurrency task force” including regulators, representatives from the Bank of England and the Treasury. A new legal infrastructure for the U.K. blockchain industry could be on the horizon.

Earlier this month the U.K. cryptocurrency exchange CoinfloorEX announced it will start offering bitcoin futures contracts in April. Although London is teeming with blockchain projects and startups, so far the most popular exchanges operate out of the United States or Asia.

Glen stressed the importance of taking measured steps before trying to encourage local innovation with more legal clarity, saying:

"I think it's right that we take appropriate — not really cautious, but proportionate — steps to evaluate it before we act as a government."

London image via Shutterstock

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KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market

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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.

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  • KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
  • This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
  • Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
  • Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
  • Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.

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Bitcoin pushes above $90,000 as traders eye change in pattern

A Wall Street banks's take on crypto. (Midjourney/Modified by CoinDesk)

Particularly hard-hit in 2025's final sessions, crypto-related stocks are bouncing in this year's first trading day.

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  • Bitcoin rose above $90,000 during U.S. trading hours on Friday.
  • It's a notable change in trend, as crypto prices late in 2025 were typically on the defensive while American stocks traded.
  • Strategy, Coinbase, Hut 8 and Galaxy Digital were among the crypto-related stocks seeing strong gains.