The UK government is planning to regulate the cryptocurrency industry, with the aim of competing with the US. This will involve introducing two new legislative bills targeted at stablecoins, which will exempt crypto service providers from some financial regulations. The UK is keen to ensure its crypto sector remains attractive to businesses, particularly as some believe the US offers a more favorable and relaxed regulatory environment under the leadership of pro-crypto president Donald Trump.
The UK government has reacted by setting out its plans to regulate the sector, with the aim of reassuring companies about the prospects in the UK.
