A U.K. parliamentary group is seeking advice from both industry players and policymakers on regulating cryptocurrencies and the digital asset sector, according to a press release.
See related article: UK seeks to regulate stablecoins for payments in new markets bill
Fast facts
- The inquiry by the Crypto and Digital Assets All Party Parliamentary Group covers the country’s existing crypto rules and the government’s hope to become a global hub for digital assets.
- It will also examine digital asset regulation, central bank digital currencies (CBDCs), and risks associated with cryptocurrencies.
- In July, the U.K. released its first bill covering crypto assets, the Financial Services and Markets Bill, attempting to bring stablecoins into the regulatory framework.
- In April, the U.K. announced a plan to boost the country to the status of a global crypto hub, and promised new rules to allow consumers to confidently pay with stablecoins.
See related article: Bank of England calls for greater crypto regulation