The U.K. is set to implement legislation that will bring various cryptocurrency operations, such as exchanges and custodial services, under regulatory oversight for the first time. The Bank of England (BoE) will oversee stablecoin entities posing systemic risks, while the Financial Conduct Authority (FCA) will regulate the broader cryptocurrency market. Additionally, there are plans for supplementary legislation specifically targeting stablecoins, which is expected to be finalized within the next six months. These developments mark a significant step in the U.K.’s efforts to improve its crypto adoption through new regulatory and legislative moves.
New UK Legislation for Cryptocurrency and Stablecoin Implementation Set for Q3
