UK says it will regulate stable-coin payments

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Reuters UK

LONDON (Reuters) – Britain’s finance ministry said on Monday it intended to legislate to regulate some stablecoins when they are used as a means of payment. The ministry said it intended to consult later this year on creating regulations for a wider set of crypo-asset activities. Stablecoins are cryptocurrencies designed to have a stable value relative to traditional currencies, or to a commodity such as gold, to avoid the volatility that makes bitcoin and other digital tokens impractical for most commerce. “We see enormous potential in crypto, UK financial services minister John Glen said, ad…

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