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UK to Focus Regulation on Stablecoins Rather Than Crypto in General

Britain will focus first on regulating stablecoins rather than the broader cryptocurrency market, its financial services minister said on Tuesday, citing the threat to competition should any major private effort dominate the emerging field.

UK to Focus Regulation on Stablecoins Rather Than Crypto in General
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Facebook Inc’s move in 2019 to introduce its own stablecoin Diem, then known as Libra, raised concerns among governments and central banks that a major payments competitor could emerge overnight.

Read more at RiskScreen.

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