UK crypto sector hopeful for new stablecoin guidelines to brin | Crypto World Analysis

UK crypto sector hopeful for new stablecoin guidelines to bring more clarity

A new UK crypto regulatory package should clear up some confusion for digital asset firms about which rules they must follow.The cryptocurrency sector in the United Kingdom is confident that upcoming stablecoin laws would clear up “grey areas” for issuers.

The United Kingdom’s Treasury, the government’s finance department, declared last Monday that stablecoins will be regulated under its payments framework as the first step in a multi-stage process to develop a comprehensive crypto regulatory system.This implies that stablecoin issuers would have to comply with the 2017 payment service laws, which would require them to register with the Financial Conduct Authority (FCA) and follow rules for providing payment services, as well as fulfil particular payment transaction standards.

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@CryptoWorldAnalysis