.hmtreasury has published a consultation paper that recommends new safeguards around stablecoins. Reporting by oknightcrypto.
The proposal follows the collapse of algorithmic stablecoin TerraUSD , whichThe government recommends changing existing legislation to give the Bank of England power to appoint administrators to oversee insolvency arrangements with failed stablecoin issuers.
“Since the initial commitment to regulate certain types of stablecoins, events in cryptoasset markets have further highlighted the need for appropriate regulation to help mitigate consumer, market integrity and financial stability risks,” the Treasury said in its proposal, which will be considered by Parliament when time allows.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Harry Styles Completes U.K. Chart Double“Harry’s House” is 2022’s fastest-selling record to date, the OCC reports, while “As It Was” completes a two-month streak at No. 1.
Read more »
Ford Fiesta ST 5-door 2022 UK review | AutocarThe Ford Fiesta ST has been updated and become five-door-only for 2022, but thankfully remains one of the sweetest affordable sports cars on sale
Read more »
High UK inflation hastens 'real living wage' announcementThe charity that sets Britain's 'real living wage', a voluntary pay rate adopted by thousands of employers, said on Sunday it will bring forward the announcement for the 2022/23 rate to September from November because of high inflation.
Read more »
UK to Hold Days-Long Bash to Celebrate Queen's 70-Year ReignBritain is getting ready for a party featuring mounted troops, solemn prayers — and a pack of dancing mechanical corgis. The nation will celebrate Queen Elizabeth II’s 70 years on the throne this week with four days of pomp and pageantry in central London.
Read more »
UK to hold days-long bash to celebrate queen's 70-year reignBritain is getting ready for a party featuring mounted troops, solemn prayers — and a pack of dancing mechanical corgis.
Read more »
UK launches new visa for world's top graduates — is your college on the list?Graduates from the world's top colleges, who are early on in their careers, will be able to apply for a short-term visa to the U.K.
Read more »