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UK to Roll Out New Crypto and Stablecoin Legislations in July
The government of the United Kingdom (UK) is planning to roll out new legislation to regulate crypto and stablecoins issuance and usage in the British nation. According to a CoinDesk report on Monday, the UK’s Economic Secretary, Bim Afolami, disclosed plans for the new crypto regulations at the Global Summit on Innovative Finance on April 15, 2024. Speaking at the event, Afolami mentioned that the regulations are scheduled to be introduced in a few months between June and July this year.
UK to Regulate Trading and Staking Cryptocurrencies
The British minister said the law would cover different areas of the emerging economy, including trading digital assets on exchanges, operating as a virtual asset service provider (VASP), and crypto custodianship.
“We are now working at pace to deliver the legislation to put our final proposals for our regime in place. Once it goes live, a whole host of crypto
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