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UK Crypto Industry Welcomes New Stablecoin Rules, Awaits Guidance

A proposed bill could give U.K. regulators new powers over payments-focused crypto assets like stablecoins, but details on how the rules might be interpreted by financial watchdogs are pending.

By Camomile Shumba, Sandali Handagama

Updated May 11, 2023, 4:58 p.m. Published Aug 17, 2022, 8:00 a.m.

The U.K. wants to bring stablecoins into the scope of local payments regulation, but it's still not clear what that might look like. (Ashley Cooper/Getty Images)