Coin

<ul class="news-points"> 
 <li>The UK is aiming to approve new stablecoin and staking regulations within the next six months.</li> 
 <li>This follows the HMT’s October pledge to provide a clearer set of crypto regulations.</li> 
 <li>Bim Afolami, Economic Secretary to the HMT, has not planned a timeline for the next phase of crypto regulations in the nation.</li> 
</ul> 
The UK government aims to fast-track the approval of new regulations governing stablecoins and staking services for crypto assets within the next six months.&nbsp; 
During an event hosted by renowned exchange Coinbase in London, Economic Secretary to His Majesty’s Treasury (HMT), Bim Afolami, expressed the government’s urgency to deliver these regulations swiftly, stating, “We’re very clear that we want to get these things done as soon as possible. And I think over the next six months, those things are doable.” 
This push for legislation follows the HMT’s October 2023 <a href="https://assets.publishing.service.gov.uk/media/653a82b7e6c968000daa9bdd/Update_on_Plans_for_Regulation_of_Fiat-backed_Stablecoins_13.10.23_FINAL.pdf" target="_blank" rel="nofollow">pledge</a> to provide more clarity on specific areas of the crypto industry by 2024. The initial commitment included a consultation on fiat-backed stablecoins. 
Notably, the proposed regulations are expected to classify fiat-backed stablecoins and their issuers under existing payments law—a …
The post <a href="https://coinedition.com/uk-fast-tracks-crypto-regulations-stablecoins-and-staking-in-focus/">UK Fast-Tracks Crypto Regulations – Stablecoins and Staking in Focus</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

UK Fast-Tracks Crypto Regulations – Stablecoins and Staking in Focus

Coin Edition

Άλλα άρθρα που δημοσιεύτηκαν στις 20 Φεβ 2024

Fandomdao is Live — Pioneering Fan Engagement Through Charitable Innovation

UK targets new laws for stablecoins and crypto staking within six months

Wisconsin Moves to Tighten AI Regulations with New Legislation

Significant Developments in Bitcoin and Major Altcoin Projects

England Sets the Date to Implement Stablecoin Regulations!

AllianceBlock Transforms into Nexera Foundation, Unveils Nexera Finance Boosting Future of Tokeni...

Join our free newsletter for daily crypto updates!