The UK plans to introduce stablecoin regulatory legislation in early 2024.

BlockBeats reported on October 30th that the UK government plans to introduce phased cryptocurrency regulation, starting with fiat-backed stablecoins and then expanding to other areas related to cryptocurrencies, including algorithmic stablecoins. The country plans to introduce legislation on fiat-backed stablecoins in early 2024. These rules will bring certain activities related to fiat-backed stablecoins under the jurisdiction of the Financial Conduct Authority (FCA).