UK to Issue New Legislation for Stablecoins and Crypto Activities by June/July, says Economic Secretary
The U.K. government plans to introduce new legislation for stablecoins, as well as for crypto staking, exchange, and custody by June or July of this year. Economic Secretary Bim Afolami announced this at the Innovate Finance Global Summit on Monday, stating that the government aims to make the U.K. a global hub for crypto. The legislation will bring a range of crypto asset activities within the regulatory perimeter for the first time. The U.K. passed a financial markets bill in 2023, laying the foundation for regulated financial activities in the country, and the government has consulted with local regulators on its ambitions to regulate crypto.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin could hit $100K ‘within weeks:’ Galaxy
Bitcoin hitting $100,000 is expected by the end of the year, but might happen before the holidays
There’s a $450 billion behemoth forging BTC’s path to $100k
The Crypto-Industrial Complex is always churning, gobbling up coins much faster than they can be mined and sold
Dynamic Music Data NFTs are redefining artist-fan relationships: Here’s how
Trending news
MoreCrypto prices
More
