UK Treasury to legalise stablecoins

It is the Treasury’s intent to regulate stablecoins across Britain, as revealed in the Queen’s Speech. During the speech, Prince Charles announced the introductions of new legislation across various sectors, including measures to drive economic growth to improve living standards in the region.

However, the Treasury’s plan does not involve legalizing algorithmic stablecoins and instead prefers 1:1 fully backed stablecoins like Tether (USDT) or USD Coin (USDC). 

By legalizing stablecoins for the UK market, the Treasury aims to open growth opportunities while ensuring financial stability as it introduces new financial technologies.
the paypers logo

The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.

 

The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.

 



No part of this site can be reproduced without explicit permission of The Paypers (v2.7).

Privacy Policy / Cookie Statement

Copyright