British officials are working on a plan to regulate stablecoins and exempt staking services, aiming to strengthen the country's appeal amid U.S. regulatory shifts.
New Initiatives on Stablecoins
The British government plans to implement specific crypto controls by December. The Treasury is expected to present legislation on stablecoins, allowing the Financial Conduct Authority to draft corresponding rules.
Changes in Staking Regulation
The new legislative initiatives aim to redefine staking and exclude it from traditional investment schemes, sparing it from additional scrutiny.
Concepts and Future Plans
While the exact timeline remains unclear, the Financial Conduct Authority is expected to soon unveil a roadmap detailing the regulation of stablecoins and other crypto assets, which might include updates on the digital securities sandbox with the Bank of England.
The anticipated measures are expected to strengthen the UK's position as a crypto leader, despite political changes and reduced emphasis on industry regulation.
