On 5 July, HM Treasury published its (amended) response to a consultation, which closed in March 2021. The Government has confirmed its intention to legislate to bring certain stablecoins, where used as a means of payment, into the regulatory perimeter. This document summarises feedback to the consultation; outlines further detail regarding how the Government intends to regulate certain stablecoins; outlines the feedback received to the call for evidence on the investment and wholesale uses of distributed ledger technology (DLT); and sets out the Government response, including further thinking on the development of the Financial Market Infrastructure Sandbox.
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NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!