The United Kingdom proposes giving regulatory agencies the power to protect customers' interests in the event of a systemic stablecoin collapse. Will it be enough? (Via Bio_Chameleon)
on Tuesday, the Treasury of the United Kingdom proposed a new set of regulatory changes for the stablecoin industry.
The appointment of the country's Financial Market Infrastructure Special Administration Regime as the primary entity to address the potential systemic failure of digital settlement asset firms. DSAs include, but are not limited to, stablecoin issuers, wallet providers and third-party payment providers.
The assignment of greater powers to the Bank of England to direct administrators and create regulations in support of the FMI SAR.
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