The UK government has set a deadline of October 25, 2027, for implementing a comprehensive crypto bill, according to City Minister Lucy Rigby. The legislation, part of the Financial Services and Markets Act, aims to regulate crypto-asset firms under the Financial Conduct Authority, aligning them with traditional financial institutions. Rigby emphasized the bill's potential to foster open and competitive markets, positioning the UK as a prime destination for digital asset businesses. The announcement comes amid pressure from political rivals and the crypto industry for the Labour government to expedite regulatory efforts. The UK was close to finalizing crypto legislation in 2024, but political changes delayed progress. Recent initiatives include a transatlantic task force with the US and consultations on stablecoin regulations. Industry leaders urge the UK to accelerate its efforts to remain competitive with the US and EU, which have already enacted significant crypto regulations.