UK passes regulation on crypto and stablecoin adoption  

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/05/UK-Big-Ben-04-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="UK" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2022/05/UK-Big-Ben-04-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/05/UK-Big-Ben-04-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/05/UK-Big-Ben-04-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/05/UK-Big-Ben-04-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/05/UK-Big-Ben-04-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/05/UK-Big-Ben-04-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/05/UK-Big-Ben-04.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>Introduced in July 2022, the legislation expands the authority of regulators over the financial system, encompassing cryptocurrencies. The bill underwent parliamentary discussions, amendments were incorporated to classify all crypto-related activities as regulated and to oversee crypto promotions, as well. Furthermore, the bill brings stablecoins to the existing framework of payment regulations.</p>
<p>HM Treasury added in its official statement that the new regulation allows the country to establish new rules that can facilitate the testing and use of new technologies such as <a href="https://www.leaprate.com/tag/blockchain/" target="_blank" rel="noopener">blockchain</a> in financial markets.</p>
<p>Earlier this year, the European Union introduced new regulations for cryptocurrencies with the <a href="https://www.leaprate.com/cryptocurrency/regulation-cryptocurrency/eu-parliament-votes-to-pass-mica-legislation/" target="_blank" rel="noopener">Markets in Crypto-Assets, or MiCA</a>, legislation, which aims to provide a regulatory framework for cryptocurrencies and stablecoins in the bloc.</p>
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