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