According to TechFlow, on October 23, according to CNBC, Dante Disparte, head of global policy at Circle, said that he believes that the UK will soon introduce legislation on stablecoins, a type of cryptocurrency designed to maintain a fixed peg to a government currency such as the US dollar or the British pound. "I think it's only a few months, not years, away from the formal introduction of laws for the stablecoin market," Disparte said in an interview with CNBC during a visit to London last week. When CNBC contacted the UK Treasury and the Bank of England, they had not yet provided comments.