Regulation
Last reviewed November 1, 2026
Crypto is legal in the US, the UK and the EU, but each takes a different route to regulating it, and the rules are still moving.
This page sums up the main frameworks so news stories make sense. Rules change quickly, so treat the regulators' own sites as the final word.
United States
For years US crypto policy was set largely through enforcement, with the SEC arguing many tokens were securities and the CFTC treating bitcoin and ether as commodities. In July 2025 Congress passed the GENIUS Act, the first federal law for payment stablecoins. Work on a broader market-structure law to divide oversight between the SEC and CFTC has continued since.
United Kingdom
Crypto firms serving UK customers must register with the FCA for anti-money-laundering purposes. Since October 2023, any crypto promotion aimed at UK consumers must follow the FCA's financial promotion rules, including risk warnings and a cooling-off period for first-time investors. The government is legislating for a full authorisation regime run by the FCA.
European Union
MiCA (Markets in Crypto-Assets) sets one licence for crypto service providers across all 27 member states and strict rules for stablecoin issuers. It has applied in full since 30 December 2024, alongside a "travel rule" that requires sender and recipient details on transfers.
The travel rule
Most major jurisdictions now apply the FATF travel rule, which requires crypto firms to pass on information about the sender and recipient of transfers. That is why exchanges may ask whether a withdrawal address belongs to you.