UK Minister Expects Laws on Stablecoins, Staking Within Six Months

The UK government is pushing hard to introduce legislation for stablecoins and crypto staking services within the next six months, according to Economic Secretary to the Treasury Bim Afolami.

UK and Stablecoins

This commitment comes amid broader plans announced by the Bank of England and the Financial Conduct Authority in October 2023 to oversee the crypto sector. While initial plans suggested a slower rollout with stablecoin rules finalized by mid-2024 and implemented by 2025, Afolami’s statement indicates a faster pace.