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UK Bill Granting Regulators Power To Supervise Crypto and Stablecoins Becomes Law

June 29 (Cointime) - The Financial Services and Markets Bill has become law in the UK after receiving approval from King Charles. The bill gives regulators the power to supervise crypto and stablecoins, and includes measures to bring crypto into the scope of regulation.

The UK government aims to regulate the crypto sector to support its safe adoption in the country, and new rules could be introduced within 12 months.

The Treasury, Financial Conduct Authority, Bank of England, and Payments Systems Regulator will now be able to enforce regulations in the sector.

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