King Charles approves UK legislation for crypto oversight
King Charles has given his official sanction to the UK’s Financial Services and Markets Bill, setting the stage for increased supervision of cryptocurrencies and stablecoins. British legislation facilitating oversight of crypto currency and stablecoins received official approval from King Charles. The sanction, which is seen as a formalized procedure following a consensus among legislators, now effectively converts the Financial Services and Markets Bill into an Act. This key action incorporates provisions to bring cryptocurrencies and stablecoins under regulatory purview. The legislation had previously received approval from the House of Lords just last week. BREAKING NEWS UK passes bill to recognize #crypto as regulated financial activity in the country. King Charles approved it. pic.twitter.com/zCezhLkSXV — L'Ord (@LordOrdinal) June 29, 2023 The new Act “provides us with the ability to manage our own financial services regulations,” said Financia...