UK to pass new laws for regulating stablecoin and crypto staking

According to Cointelegraph, the United Kingdom plans to pass new laws regulating stablecoins and crypto staking. The new regulations are expected to be introduced within the next six months.

Bim Afolami, an economic secretary to the treasury, mentioned at a Coinbase-hosted crypto event in London on February 19, 2024, that the government was working to ensure the new legislation was passed ahead of this year’s general election.