PANews, October 23 - According to CNBC, Dante Disparte, the global policy chief of Circle, stated in an interview that he believes the UK will soon introduce legislation for stablecoins. He said, 'I think we are within a timeframe of months rather than years for the formal legislation of the stablecoin market.' Disparte also noted that, given a series of events in 2022, such as the collapse of the cryptocurrency exchange FTX, which once had a market value of $32 billion, and other industry crises, the UK's more cautious approach to introducing laws regarding cryptocurrencies may be a good thing. However, he added that there is an urgent need to introduce formal regulations for stablecoins as well as for the trading of digital assets and other crypto-related activities.