UK government moves forward with regulatory framework on stablecoins for payments
2022.04.04 21:46
UK government moves forward with regulatory framework on stablecoins for payments
The United Kingdom’s Economic and Finance Ministry has said it intends to amend its existing regulatory framework to incorporate stablecoins used as a means of payment.
In a Monday announcement, HM Treasury said certain stablecoins could potentially become “a widespread means of payment” for retail customers in the United Kingdom following a consultation with various organizations, universities and individuals that was begun in January 2021. The U.K. government body said it intended to “take the necessary legislative steps” to bring stablecoins into its regulatory framework, “primarily by amending existing electronic money and payments legislation.”
