UK crypto leaders are urging the government to establish a comprehensive strategy for stablecoins, fearing the country may lag behind the US. Major banks in the US are already exploring stablecoin possibilities.
The letter from 30 industry leaders highlights the shortcomings of existing UK regulations on stablecoins, which they believe hinder innovation and adaptation to modern financial needs.
Consistent regulations are deemed essential for the successful integration of stablecoins into the financial ecosystem. As various nations start to embrace digital assets, the UK must ensure it is not left behind.
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