UK to Introduce Legislation on Stablecoins by August

UK to introduce legislation on Stablecoins by August. The U.K. Treasury in consultation with other regulatory bodies including the Bank of England (BoE), the Payment Systems Regulator (PSR) and the Financial Conduct Authority (FCA) will introduce legislation on a regulatory system for stablecoins before the August summer break, said Deputy BoE Governor Jon Cunliffe on Wednesday.