Stablecoins and Staking at the Heart of UK’s New Crypto Framework
The UK Labour government has announced plans to introduce a comprehensive cryptocurrency regulatory framework in early 2025.
Speaking at the City & Financial Global Tokenisation Summit, Economic Secretary to the Treasury Tulip Siddiq outlined the initiative, which aims to consolidate rules for stablecoins and staking under a unified regime. This approach seeks to simplify oversight and adapt to the evolving nature of the crypto sector.
The new framework is seen as a strategic move to keep the UK competitive amidst global advancements like the EU’s MiCA regulation and pro-crypto initiatives in the U.S. The legislation had been delayed by the recent UK general election but is now being prioritized. Analysts view this as a significant step in embracing crypto innovation and fostering economic growth.
Clever Robot News Desk 24th November 2024
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