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UK Minister Expects Stablecoin and Staking Legislation Within Six Months

A U.K. minister has signaled a fresh commitment to introduce stablecoin and other crypto-related legislation to the country this year. Economic Secretary to the Treasury Bim Afolami said that the U.K. government was "pushing very hard” to bring legislation around stablecoins and crypto staking services within the next six months, according to a Bloomberg report. In October 2023, The Bank of England and the Financial Conduct Authority (FCA) announced broad plans for overseeing the crypto sector in a coordinated fashion. Afolami’s statement suggests the U.K. is marching ahead to bring crypto regulation in the election year.


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