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The UK government has announced plans to introduce new legislation targeting the regulation of stablecoins and other cryptocurrency activities, including staking, exchange, and custody, by June or July 2024. Economic Secretary Bim Afolami emphasized that this move aims to position the UK to front run the USA in cryptocurrency regulation, potentially setting the stage for stablecoins to be recognized as legal tender. The legislation will cover new areas such as operating exchanges and the custody of customer assets for the first time.
UK government announces open finance task force https://t.co/Cv3bAFyeJ5
Breaking: UK announces date for stablecoin regulatory guidelines - July 2024 - takeaways: - UK continues push to front run the USA in crypto asset and stable coin regulations. - These frameworks lay the foundation for stablecoin as legal tender in the UK. The UK will enact… https://t.co/l3fGsJNt4O
Breaking: UK announces date for stablecoin regulatory guidelines - July 2024 - takeaways: - UK continues push to front run the USA in crypto asset and stable coin regulations. - These frameworks lay the foundation for stablecoin as legal tender in the UK. https://t.co/S7orkjuPko
