Last week, King Charles signed the Financial Services and Markets measure, completing the process for the measure to become law and giving regulators the power to monitor cryptocurrencies and stablecoins. This step, known as royal assent, is merely a procedural formality following the lawmakers’ agreement and effectively transforms the bill into the Financial Services and Markets Act.

Hailed as a vital component of the government’s vision, the HM Treasury asserts that the act plays a central role in fostering an open, sustainable and technologically advanced financial services sector. Financial Services Minister Andrew Griffith emphasized that the act provides the United Kingdom with…

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