Prime

<a href="https://bitcoinworld.co.in/uk-authorities-set-deadline-to-introduce-laws-on-stablecoins-and-staking/" title="UK Authorities Set Deadline To Introduce Laws On Stablecoins And Staking" rel="nofollow"></a>
The UK authorities may introduce laws on staking and stablecoins within six months. 
In a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-02-19/uk-s-afolami-says-expects-rules-on-stablecoins-crypto-staking-within-six-months?sref=dJOSAJZH">article</a> from Feb. 20, officials in the UK appear hellbent on introducing laws to regulate stablecoins and staking. 
According to Economic Secretary to the Treasury Bim Afolami, speaking at an industry event organized by Coinbase in London on Monday, the UK government is “pushing very hard” for the legislation. 
According to Bim Afolami, Economic Secretary to the Treasury,&nbsp; 
“We’re very clear that we want to finish these things as soon as possible. And I think over the next six months, those things are doable.” 
Staking, the process in which investors lock up their tokens to help keep the blockchain running in exchange for a small return, is expected to receive a new classification that will avoid it being considered a collective investment, said Tom Duff Gordon, vice president of international policy at Coinbase. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/ebay-reportedly-laid-off-staff-from-its-nft-marketplace-knownorigin/" aria-label="“eBay Reportedly Laid Off Staff From Its NFT Marketplace KnownOrigin” (Edit)">eBay Reportedly Laid Off Staff From Its NFT Marketplace KnownOrigin</a> 
Broader proposals that could bring crypto exchanges and other industry providers under existing financial services rules remain in limbo.&nbsp; 
Asked whether the guidance could also become law this year, Afolami said he could not give a time frame. 
Earlier, UK Prime Minister Rishi Sunak vowed to transform the country into a “global crypto hub.”&nbsp; 
In October 2023, the Treasury promised for the first time to bring more clarity to specific areas of cryptocurrencies by some point in 2024. 
Traditional currencies such as the dollar or pound, and the passage of the broader Financial Services and Markets Act last summer. 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/uk-authorities-set-deadline-to-introduce-laws-on-stablecoins-and-staking/">UK Authorities Set Deadline To Introduce Laws On Stablecoins And Staking</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

UK Authorities Set Deadline To Introduce Laws On Stablecoins And Staking

ItsBitcoinWorld

Другие статьи, опубликованные 20 февр. 2024 г.

Solana; Chainlink Show Overheating Open Interest: Data

Coinbase exchange sees over 18,000 BTC withdrawn

BlockDAG’s $2 Million Giveaway and 5000x ROIs Pull in Investors from ScapesMania and Solana

Exploring the Implications of Bitcoin’s Upcoming Halving

Bitcoin’s Market Movement: Analysts Highlight Significant Support and Resistance Levels

Animoca, Polygon-backed Humanity Protocol launches ZKP-powered palm recognition

Join our free newsletter for daily crypto updates!