Britain sets out plan to bring some stablecoins under regulatory net

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As part of creating a global cryptoasset hub, financial services minister John Glen said Britain will legislate to bring some stablecoin

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Under the regulatory net such as complying with existing payment rules.

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Britain set out a detailed plan on Monday to exploit the potential of cryptoassets

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Their underlying blockchain technology to help consumers make payments more efficiently.

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John Glen said Britain will legislate to bring some stablecoins under the regulatory net such as complying with existing payment rules.

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Stablecoins are cryptocurrencies designed to have a stable value relative to traditional currencies, or to a commodity such as gold

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To avoid the volatility that makes bitcoin and other digital tokens impractical for most commerce.

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All stablecoins that reference a fiat currency should be regulated, the government

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Britain will consult on creating regulations for a wider set of crypto assets like bitcoin, taking the sector’s energy consumption into account

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Now, NFTs Can Be Linked To Profile Photos On Twitter

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