The UK Treasury unveiled definitive proposals for regulating cryptoassets and stablecoins on Monday.
The government intends to implement regulations in stages, beginning with the oversight of fiat-backed stablecoins for payment.
The subsequent phase will address the wider cryptoasset sector, as outlined in two policy documents.
These suggestions come after a consultation released in February about the upcoming financial services regulatory structure for cryptoassets in the UK.
Numerous companies and stakeholders actively participated in the consultation, offering insights to refine the government’s proposed approach.
“While most aspects of our proposals were well-received by the…
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