The UK government is preparing to introduce legislation to regulate stablecoins and crypto staking. According to a report from Bloomberg, the UK Treasury is drafting two pieces of legislation that would focus on stablecoins and exempt crypto providers from the requirement to keep staking services separate from existing financial regulations.

- The stablecoin law would allow the Financial Conduct Authority (FCA) to consult with the industry on rulemaking.

- Staking would be reclassified to avoid being viewed as a collective investment scheme.

The move comes as Donald Trump's election victory boosted confidence in the US crypto market. 🇬🇧✨