The UK has released final rules for the regulation of cryptocurrencies and stablecoins, with plans to introduce legislation on fiat-backed stablecoins in early 2024

2023-10-30 18:02:34

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ChainCatcher news, according to CoinDesk, the UK government released the final rules for cryptocurrencies and stablecoins on Monday. The government plans to introduce cryptocurrency regulation in phases, starting with fiat-backed stablecoins and then adding other cryptocurrency-related areas, including algorithmic stablecoins.

The document states that legislation regarding fiat-backed stablecoins is expected to be introduced in early 2024. These rules will bring certain activities related to fiat-backed stablecoins under the jurisdiction of the Financial Conduct Authority (FCA).

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