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United Kingdom: Published Update on Plans for the Regulation of Fiat-backed Stablecoins

Policy overview

Description

Published Update on Plans for the Regulation of Fiat-backed Stablecoins

On 30 October 2023, the UK Treasury published its revised plans for regulating fiat-backed stablecoins in the UK, aimed at enabling their use in payment systems. The new rules will be presented to Parliament in 2024, shifting oversight of fiat-backe…

Scope

Policy Area
Other operating conditions
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body

Complete timeline of this policy change

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2021-01-07
in consultation

On 7 January 2021, the UK government published a consultation on its proposed regulatory approach t…

2021-03-21
processing consultation

On 21 March 2021, the UK government closed its consultation on its proposed regulatory approach to …

2022-04-04
under deliberation

On 4 April 2022, the UK government published its response to the consultation on the regulatory app…

2023-10-30
under deliberation

On 30 October 2023, the UK Treasury published its revised plans for regulating fiat-backed stableco…