UK Financial Regulator to Scrutinize Terra Incident

The U.K.'s financial regulator and its finance ministry, the Treasury, will scrutinize the collapse of the Terra ecosystem's crypto tokens while creating new rules for crypto assets. Recent market instability in stablecoins “will absolutely need to be taken into account” when the Financial Conduct Authority works with the Treasury to create the rules later this year, Sarah Pritchard, the FCA's executive director for markets.