UK Crypto Industry Welcomes New Stablecoin Rules, Awaits Guidance

UK Markets Bill Extends Banking Rules to Crypto Assets

“By bringing stablecoins within the scope of regulation, the bill paves the way for further adoption in the U.K., and this will be a key area of focus for parliamentarians as part of our inquiry into the wider sector,” she added.Blair Halliday, managing director of the U.K. for Gemini, a crypto exchange and custodian, called the legislation a “positive move that recognizes the significant role that these assets will play in our economy and financial system in the future.

“You might be forgiven for thinking that if they've put something in place for what happens at the end … That means they've already worked out what happens at the beginning. But they're doing it the other way around,” Nyman said. The U.K. government’s planned discussions on wider digital assets including bitcoin for later this year will be crucial in understanding where it really stands on crypto-friendliness, Nyman said.

“The BoE will need to authorize any stablecoin, and there are due processes that firms will need to follow before being given authorization,” the PSR told CoinDesk in an emailed statement.

I think that Tether will be ready to withstand even the strictest regulations just to be adopted in the UK

This will be great for $gbpt I think

What about GBPT?

Get Set Play will help good gamers, streamers, and viewers to understand their potential entry point into this new arena, particularly as it enables access, and offers multiple well-integrated modules such as GSP Arena, GSP Streams, and the GSP Metaverse for live stream

Get Set Play will help good gamers, streamers, and viewers to understand their potential entry point into this new arena, particularly as it enables access, and offers multiple well-integrated modules such as GSP Arena, GSP Streams, and the GSP Metaverse for live stream

That's great!

GBPT would fit nicely there.

The point is here that if stablecoins are used widely only in banks it will stop innovation process. It should be both. Like Tether for example.

USDC won’t survive this. I’m telling you. Not after the story with Tornado cash..

Good time for GBPT as for me.

DigPerspectives Xrp 👀

DigPerspectives Howw come everyonee is silent on this

iamsandali camomileshumba It's time for the UK to use GBPT!

iamsandali camomileshumba I advise them to better control their fiat money, and get their hands off of USDT and BTC🤨

iamsandali camomileshumba People, we need to tell everyone about this!

iamsandali camomileshumba Thankss 🚀

🚀 Thankss a millon

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