UK Crypto Bill Receives Royal Assent, Boosting Adoption and Recognition

The U.K. bill granting regulators the authority to oversee cryptocurrencies and stablecoins has received royal assent, officially becoming law. The Financial Services and Markets Act includes measures to regulate crypto assets and bring stablecoins under the scope of payments rules. The U.K. government aims to establish control over its financial services rulebook and support the safe adoption of cryptocurrencies in the country. The Treasury, Financial Conduct Authority, Bank of England, and Payments Systems Regulator will soon be able to introduce and enforce regulations for the sector.