UK to Draft a Regulatory Framework for Crypto, Stablecoins Early Next Year
Summary
The U.K. plans to establish a regulatory framework for the crypto industry by early next year. Stablecoins will be excluded from the U.K.'s payments regime, and new rules on staking will prevent it from being treated as a collective investment scheme. This announcement comes after months of uncertainty regarding the Labour government's approach to crypto regulation following its election in July. The previous Conservative government had initiated measures to regulate crypto under the Financial Services and Markets Act and indicated forthcoming rules for stablecoin and staking providers.
