UK government to lay out plans to regulate stablecoins and staking services this month
the UK government will formulate a plan this month to regulate the cryptocurrency industry, in order to eliminate the temptation of the United States, led by Donald Trump, and to make companies feel confident about their prospects in the UK. Insiders familiar with the matter said that the Treasury is planning to formulate two legislations on stablecoins (tokens linked to assets with less volatility such as the US dollar) and an exception clause sought by cryptocurrency providers to exclude so-called pledge services from current financial regulation. After Trump won the election, cryptocurrency assets, including Bitcoin, sharply expanded, and the industry celebrated this, so it decided to promote regulation of cryptocurrency. The risk facing the UK is that start-ups will turn their attention to other jurisdictions with clearer or more favorable rules, such as the United States.
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