UK to Issue New Crypto, Stablecoin Legislation by July, Minister Says

The U.K. government is set to put forward legislation for stablecoins as well as for crypto staking, exchange and custody by June or July, Economic Secretary Bim Afolami said at the Innovate Finance Global Summit on Monday. "We are now working at pace to deliver the legislation to put our final proposals for our regime in place," Afolami said. The U.K.’s Conservative Party-led government has said it wanted to be a crypto hub and has since consulted on its ambitions to regulate crypto. Afolami teased the coming of secondary stablecoin legislation in February, adding that the government was pushing to get it done within six months.

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