While legal studies on cryptocurrencies and stablecoins continue in the UK, a new statement has been made on the subject.
According to Coindesk, British Economy Minister Bim Afolami said at the Innovate Finance Global Summit on Monday that the UK government is preparing to introduce legislation for staking, clearing and custody services related to cryptocurrencies, as well as stablecoins, by June or July.
At this point, while the UK government is preparing to enact new legislation on stablecoins and cryptocurrency trading, staking, and custody by June or July 2024, it has been stated that a number of cryptocurrency activities, such as operating cryptocurrency exchanges and storing customer assets, will be included in the legislation for the first time. .
Stating that they want to make England a global center for cryptocurrencies, Minister of Economy Bim Afolami reminded that last year they passed a law recognizing cryptocurrencies and stablecoins as regulated financial activities in the country and said:
“Currently, as the government, we are working rapidly to prepare legislation regarding cryptocurrencies and stablecoins.
“Once approved, a range of cryptocurrency activities, including the operation of a cryptocurrency exchange and the custody of customers' assets, will be regulated for the first time.”
*This is not investment advice.
