UK plans to regulate some cryptocurrencies

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BANG Showbiz English

UK Chancellor Rishi Sunak has announced plans to regulate some cryptocurrencies. The country is ultimately hoping to become a hub for digital payment companies – but Sunak insists that more regulations are needed in order for the UK to reach its long-term ambitions. He said: “We want to see the [cryptocurrency] businesses of tomorrow – and the jobs they create – here in the UK, and by regulating effectively we can give them the confidence they need to think and invest long-term.” However, the Treasury has still not announced which stablecoins will be regulated as part of the broader plan. The …

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