uk stablecoins UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown Regulation Bitcoin News

UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown Regulation Bitcoin News

-The British Treasury Department has affirmed its commitment to regulate stablecoins after the collapse of terrausd (UST) and terra (LUNA).

-HM Treasury, the U.K. Treasury Department, is moving forward with plans to regulate payment stablecoins despite a crypto market meltdown last week.

-A HM Treasury spokesman said that legislation to regulate stablecoins, where used as a means of payment, will be part of the Financial Services and Markets Bill which was announced in the Queens Speech.

-The U.K. government unveiled a detailed plan in April to make the country a global crypto hub and a hospitable place for crypto.

-However, the Treasury does not plan to include algorithmic stablecoins in the legislation, saying they do not guarantee stability.

 

 

uk stablecoins UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown Regulation Bitcoin News
UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown Regulation Bitcoin News 3

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