United Kingdom policymakers are adopting a coordinated approach to establish regulations allowing cryptocurrencies, stablecoins and CBDCs to coexist.
A coordinated approach between the Treasury, the Bank of England (BoE) and the Financial Conduct Authority (FCA) could help the United Kingdom develop regulations that allow cryptocurrencies, stablecoins and central bank digital currencies (CBDCs) to coexist.
Cointelegraph spoke exclusively to Varun Paul, who formerly served as the head of Fintech at the BoE, about the U.K.’s efforts to establish regulations that support the use of cryptocurrencies and stablecoins while maintaining investor protection and financial stability.
Paul, now the senior director for CBDCs and financial market infrastructure at Fireblocks, says the U.K. is closing the gap with the European Union’s Markets in Crypto-Assets (MiCA), which he describes as the most advanced regulatory framework globally.
