UK draft crypto legislation: foreign stablecoin issuers don’t have to be UK regulated – Ledger Insights
Today the UK’s HM Treasury released its draft crypto legislation. A key aim is to ensure that entities that engage directly with UK consumers in relation to crypto-assets are regulated in the UK. But compared to some other regulatory regimes, HM Treasury wants to strike a balance between protecting consumers and also being an attractive venue for crypto activities. So certain crypto providers will fall outside the regulatory perimeter, including foreign stablecoin issuers, even if UK residents use their stablecoin.
Rachel Reeves, Chancellor of the Exchequer, said that the UK is collaborating with the United States to support the growth of digital assets in a joint working group. During a recent visit to the US, she discussed…
