Wednesday , March 26 2025
Home / Altcoins / Will it be possible to pay in the UK with stablecoins?

Will it be possible to pay in the UK with stablecoins?

Summary:
London by Night Foto CC0 Public Domain via Unsplash In the United Kingdom, a bill is ready that aims to regulate stablecoins as a means of payment. The aim is to match emerging technology with existing financial services rules. Regulating stablecoins The UK Treasury has said that it wants to regulate certain types of stablecoins. The bill – which seeks to make stablecoins a means of payment – aims to phase out the current legislation. The current legislative framework stems from the EU, and the UK wants to move away from this with this bill. If this proposal passes, the UK could gain a head start in the development of a regulated crypto and stablecoin system. MiCa In the EU, a similar proposal is ready; MiCA. This stands for Markets in Crypto

Topics:
Bitcoin Schweiz News considers the following as important: , , , ,

This could be interesting, too:

Mandy Williams writes Binance to Delist Nine Non-MiCA Stablecoins in Europe, Including USDT And DAI

Bilal Hassan writes Binance to Delist Non-MiCA Stablecoins in Europe by March 31

Christian Mäder writes SNB-Chef Martin Schlegel: Nationalbank hat keine Angst vor Bitcoin

Wayne Jones writes Chainalysis Report Reveals Rising Sophistication in Crypto Crime

In the United Kingdom, a bill is ready that aims to regulate stablecoins as a means of payment. The aim is to match emerging technology with existing financial services rules.

Regulating stablecoins

Will it be possible to pay in the UK with stablecoins?
The UK Treasury has said that it wants to regulate certain types of stablecoins. The bill – which seeks to make stablecoins a means of payment – aims to phase out the current legislation.

The current legislative framework stems from the EU, and the UK wants to move away from this with this bill. If this proposal passes, the UK could gain a head start in the development of a regulated crypto and stablecoin system.

MiCa

In the EU, a similar proposal is ready; MiCA. This stands for Markets in Crypto Assets and is a set of rules and guidelines for EU member states. Both the MiCA and the most recent UK bill are not intended to fully adopt crypto, but rather to protect financial stability.

Stablecoins can pose a threat to this financial stability. Since the collapse of TerraUSD, stablecoins no longer enjoy the positive reputation they used to have.

„Today is a landmark day for financial services in the UK“

Nadhim Zahawi, chancellor of the UK Treasury, said in the statement.

Leave a Reply

Your email address will not be published. Required fields are marked *