UK publishes plans for stablecoins regulation

The United Kingdom government has published an update to its plans to regulate fiat-backed stablecoins. The document, published on Oct. 30, aims to facilitate and regulate the use of fiat-backed stablecoins in U.K. payment chains.

According to the document, His Majesty’s Treasury intends to introduce specific legislation to parliament in 2024, bringing the regulation of fiat-backed stablecoins under the Financial Conduct Authority’s (FCA) mandate.

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