In a parliamentary debate last week, Richard Fuller, the Economic Secretary to the Treasury, signaled that the government wants the UK to be a global hub for crypto technologies.
''We want to become the country of choice for those looking to create, innovate and build in the crypto space,'' added Fuller. ''The U.K. can either be a spectator as this technology transforms aspects of life, or we can become the best place in the world to start and scale crypto technologies.''
Under newly-elected Prime Minister Liz Truss, the UK government also plans to move forward with the Financial Services and Markets Bill, legislation that will establish a regulatory framework for stablecoins.
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