British Treasury Undersecretary It has announced its plans to legalize stablecoins. The office plans to gradually recognize these as legal tender.

“Fixed coins are a type of crypto-asset whose value is usually pegged to fiat currencies such as dollars and remains stable. “With appropriate regulations, it can become a more efficient form of payment and increase the option for the buyer,” he said.

Moreover, Royal MintTreasury-owned will issue its own NFTs. The Treasury said the move aims to designate the UK as a cryptocurrency-friendly jurisdiction.

“Chancellor Rishi Sunak has instructed the Royal Mint to publish the NFT in the summer. This decision illustrates the future-oriented approach we are considering when dealing with cryptocurrencies in the UK.”

In addition to the regulations, the Treasury will open an “infrastructure sandbox for the financial market”. The ministry said in a statement that it would allow companies in the sector to experiment and innovate and “increase the competitiveness of the British tax system”.

remember in march FCA He briefed on the investigations against 50 companies in the crypto industry. Shortly before that, the regulator announced its intention to ban bitcoin ATMs from working.