The government is striving to adopt the new law before this year’s general election.
Crypto companies based in the UK have been demanding clearer regulations for a while.
Within the next half-year, lawmakers in the UK want to enact new regulations on cryptocurrency staking and stablecoins.
The government is striving aggressively to adopt the new law before this year’s general election, according to Bloomberg, which Economic Secretary to the Treasury Bim Afolami said at a Coinbase-hosted crypto event in London on February 19.
Afolami stated:
“We’re very clear that we want to get these things done as soon as possible. And I think over the next six months, those things are doable.”
When asked for further specifics about the long-awaited crypto policy, Afolami stayed mum. In 2022, Prime Minister Rishi Sunak of the UK made a commitment to turn the nation into a “global crypto hub.” He emphasized the importance of crypto companies being able to “invest, innovate
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