London — The chief policy officer at cryptocurrency company Circle predicts that stablecoin legislation will be enacted in the United Kingdom in “months, not years.”
Circle’s global head of policy, stablecoins—a kind of cryptocurrency that seeks to maintain a steady peg to official currencies like the US dollar or British pound—will soon be the subject of legislation in the UK.
Disparte told CNBC last week while on a trip to London that “I think we’re within months, not years” of real legislation for the stablecoin market being adopted. CNBC contacted the Bank of England and the Treasury, but neither organisation was immediately available for comment.
2022 events like the demise of FTX, a cryptocurrency exchange that was once valued at $32 billion, and other industry problems may have made the U.K.’s more gradual approach to enacting rules aimed at the sector beneficial.
Source (CNBC)
