The Bank of England plans to regulate stablecoins that could pose a risk to the financial system.
The Financial Conduct Authority will be responsible for regulating stablecoin providers in the crypto sector.
Legislation for fiat-backed stablecoins will be introduced in the UK early next year.
The Bank of England has announced that it plans to regulate stablecoins that could potentially pose a risk to the financial system. In a discussion paper published today by FCA, the bank disclosed that it…