The Financial Conduct Authority has today (28 May) published plans for issuing stablecoins, crypto currency and the financial resilience of cryptoasset firms to maintain a safe and competitive sector.
Following a number of roundtables and extensive feedback on previous discussion papers, the proposals mark the next step on the road to fully regulate crypto in the UK. IMF urges Reeves to 'refine' fiscal rules as it upgrades UK's economic outlook The rules put forward aim to ensure regulated stablecoins maintain their value and give customers clear information on how the backing assets are being managed. David Geale, executive director for payments and digital finance at the FCA, said: "At present, crypto is largely unregulated in the UK. We want to strike a balance in support of ...
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