UK to Implement Stablecoin and Crypto Staking Legislation Within Six Months

Economic Secretary to the Treasury Bim Afolami announced the government's commitment to fast-track legislation for stablecoins and crypto staking, aiming for approval within the next six months.

The UK government is pushing to get stablecoin and crypto staking legislation approved by lawmakers within the next six months.
Economic Secretary Bim Afolami emphasized the urgency of the legislation at a Coinbase event, stating it is 'doable' within the timeframe.
The broader regulatory framework for cryptocurrencies remains uncertain, with no clear timeline for comprehensive legislation.
Prime Minister Rishi Sunak's ambition to make the UK a global crypto hub underpins the legislative push.
The Financial Conduct Authority has been tightening oversight on crypto firms, issuing warnings and requiring compliance with new marketing rules.