Crypto firm Circle expects the UK to introduce stablecoin laws in 'months, not years'

Published On Oct 23, 2024, 5:42 AM

Dante Disparte, the global head of policy at Circle, has indicated that the UK is expected to introduce formal legislation regarding stablecoins within the upcoming months. This development highlights the UK's efforts to catch up with the European Union and other regions that have already begun regulating stablecoins. The legislation aims to foster innovation and manage risks associated with cryptocurrencies, particularly after tumultuous events in the crypto market in 2022. The UK government is motivated to create a regulatory framework that can keep pace with global standards and ensure the country can reap the potential benefits of this technology, particularly in areas like banking and digital payment systems.