UK Crypto Industry Hopes for More Clarity From Planned Stablecoin Rules
"The U.K.’s crypto industry is hopeful that its forthcoming stablecoin regulations will clear up “gray areas” for issuers.
Last Monday, the U.K.’s Treasury, the government's finance arm, announced that it would regulate stablecoins under its payments framework as a first step in a multi-stage process to establish a robust crypto regulatory regime.
This means that stablecoin issuers would have to comply with the 2017 payment service regulations, which would require them to register with the Financial Conduct Authority (FCA) and follow rules on providing payment services, as well as meet specific requirements for payment transactions."
Article HERE (CoinDesk)