UK will regulate Stablecoin Payments

Article Image
Photo by Viktor Forgacs / Unsplash

London, April 4 (Reuters)

  • Britain's finance ministry said on Monday (4th April 2022) that it intended to regulate some stablecoins when they are used as means of payment
  • more regulations for a wider set of crypto-asset later that year

UK wants to become Global Hub for Cryptocurrencies and Blockchain Technology

'We see enormous potential in crypto", UK financial services minister John Gled said. Furthermore he added that regulatory standards will not be compromised.

He then went on and said that there is already a detailed plan which will be a new world for the newly regulated and the regulators.

The regulations should help consumers to use stablecoins for payments with confidence. Great Britain will consult on a 'world leading' regime for the rest of the crypto market as well.


Opinions expressed at Vestorportal.com are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. Vestorportal.com does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is Vestorportal.com an investment advisor. Please note that Vestorportal.com participates in affiliate marketing.

Support us:

BTC-(BTC): bc1qrja84qhn7299lmad79ch7flnca0lyq0alp6pdv

ETH-(ERC20): 0xEC06cbAfF0261e6Da0122Ae579a641B3e2303523