The UK government's proposals come as investors continue to struggle with the market-wide rout following the recent collapse of Terra ecosystem tokens.
The UK government’s proposals come as investors continue to struggle with the market-wide rout following the recent collapse of Terra ecosystem tokens.
The Treasury has revealed that it will accept responses on the consultation until 2nd August. The objective of this proposal is to bring necessary changes to UK’s existing plans and amplify regulation on stablecoins. The Treasury said: The new proposal will include bringing about changes in the Financial Market Infrastructure Special Administration Regime, also known as FMI SAR. The aim is to incorporate the challenges posed by potential failures of stablecoin issuers that are not banks.
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