#StableCoins under regulations in UK
UK Parliamentarians have voted through a new bill that could recognise #Crypto as a regulated activity in the country.
The approval of the Financial Services & Markets Bill (FSMB) on Monday by Parliament's Upper chamber, the House of Lords, means the Bill is going to enter the final stages before it is put into law.
The wide ranging bill, spanning over 340 pages, was introduced in July to take advantage of Brexit freedoms and give regulators more power over the UK Financial System.
While the original bill included a proposal to regulate stablecoins under the country's payments rules, amendments to treat all crypto as a regulated activity and measures to supervise crypto promotions were added later as the bill progressed through Parliament.
