A U.K. bill giving regulators the power to supervise crypto and stablecoins was approved by King Charles Thursday, marking the last formal stage that makes the bill law. Royal assent, a purely procedural step following agreement from lawmakers, makes the Financial Services and Markets Bill an Act, and includes measures to bring crypto and stablecoins into the scope of regulation.
PBN Research
UK Passes Crypto Bill
https://watcher.guru/news/uk-passes-bill-recognizing-crypto-as-regulated-financial-activity
The government noted the act as “central” to its vision “to grow the economy and create an open, sustainable, and technologically advanced financial services sector.” Subsequently, this represents a crucial moment for the digital asset industry in the country.
UK Crypto Adverstising Warning
Industry members are sounding the alarm on a proposed measure to require crypto service providers to comply with local advertising rules, which could add an additional layer of authorization to an already complex process.
Crypto Leaders Bemoan US falling behind UK
“It’s disheartening and frustrating to see the U.S. fall behind and failing at retaining and importing the best talents to work on a much-needed upgrade to our financial system," the former PayPal president and head of Meta’s abandoned Diem stablecoin project said on Twitter. "The rest of the world is noticing and taking advantage of this situation.”
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