UK REGULATORY APPROACH TO CRYPTOASSETS AND STABLECOINS

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.

https://www.gov.uk/government/consultations/uk-regulatory-approach-to-cryptoassets-and-stablecoins-consultation-and-call-for-evidence

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017