#Cryptocurrency Companies Urge UK to Develop National Stablecoin Strategy

 #Cryptocurrency Companies Urge UK to Develop National Stablecoin Strategy



Several major cryptocurrency companies said on Wednesday that the UK should develop a national stablecoin strategy to promote token adoption and avoid falling behind the US in this disruptive new technology.

Thirty crypto industry figures stated in an open letter to Chancellor Rachel Reeves that the UK must act immediately to avoid becoming a rule-taker rather than a rule-maker in the digital asset era. The letter said: "To ensure the UK remains at the forefront, we believe a proactive and coordinated national strategy is needed, positioning stablecoins as financial infrastructure to be responsibly embraced rather than a risk to be curtailed."

A UK Treasury spokesperson said the government plans to advance final legislation on crypto assets, including stablecoins, by the end of the year.


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