What the UK has done now is what the US should be doing, not the other way round.
It's because government wants to have control over it and since they can control Bitcoin, that's why they are doing that. Well, they will surely find another way to take control if not fully control then having a platform that they regulated would still bring them profits just like what the government did where they have regulated the app I am using to buy and sell crypto.
The recent decision of United Kingdom to embrace crypto currency industry is undoubtedly a positive development. As UK is an influential country of European continent with strong economy, this decision of UK will certainly escalate growth and adoption of this emerging industry, build confidence of institutions to make substantial investment and encourage other countries to follow this example. Another encouraging development is the news of Korean parliament is set to pass legislation regarding crypto regulation soon. This another step towards establishing clear framework for crypto currencies.
https://www.coindesk.com/consensus-magazine/2023/01/26/south-korea-national-assembly-crypto-debate-regulations/#:~:text=Non%2Dsecurity%20tokens%20%E2%80%93%20which%20include,are%20enforced%20by%20the%20FSC.
