The presence of stablecoin regulation in the bill was confirmed the evening before in the programmatic speech delivered by hancellor of the Exchequer Nadhim Zahawi. Although stablecoin regulation was intended to be part of the bill from its inception, the fate of that regulation had become a matter of concern for some observers after the recent upheaval in crypto markets and the departure of pro-crypto members of the government earlier in July, which included Economic Secretary to the Treasury John Glen and Zahawi’s predecessor Rishi Sunak.
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Source: Cryptocurrency - investing.com
