CandleFocus UK government set for crypto regulations next year, officials says
2024-11-22
Author: Content Editor
The UK government plans to introduce a new regulatory framework for the cryptocurrency industry, including stablecoins, next year. The regulations were delayed due to the general elections in July, but with the newly formed government, progress is expected. Stablecoins, which are pegged to fiat currencies, will be included in the new regulations, which are set to be drafted in early 2025. Other European countries, such as France, Switzerland, and Liechtenstein, have already implemented their own cryptocurrency regulations. The UK has a growing cryptocurrency market, with approximately 2.5 million adults owning cryptocurrency. The country is also considering the implementation of a Central Bank Digital Currency (CBDC).
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