UK Minister Says Government Only Has Time to Implement Stablecoin, Staking Legislation

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Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

U.K. Economic Secretary Bim Afolami said he is confident the government can only implement stablecoin and staking rules in the coming weeks.staking

and stablecoins. Those two things are absolute priorities in the coming weeks and months,” Afolami said at the Financial Times Crypto and Digital Asset Summit. Stablecoins are digital tokens that are tied to other assets like fiat currencies.An election is expected to occur in the second half of this year, leaving little time for the current ruling party, the Conservatives, to implement all of the crypto measures they promised.

 

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