Treasury written question – answered at on 29 July 2025.
Lord Sarfraz
Conservative
To ask His Majesty's Government what plans they have to regulate pound sterling-backed stablecoin; and what assessment they have made of the impact of the United States GENIUS Act on any such regulation.
Lord Livermore
The Financial Secretary to the Treasury
The Government has confirmed that it will bring forward final legislation this year to create a financial services regulatory regime for cryptoassets in the UK. The Government recognises the growth and competitiveness opportunities of stablecoins, and its regime will allow firms to be licensed in the UK to issue stablecoins.
Following the passing of the GENIUS Act by the US Congress, the Government’s approach to cryptoassets positions the UK well to work with the US in advancing our shared ambition to foster world-leading cryptoasset markets.
Yes1 person thinks so
No0 people think not
Would you like to ask a question like this yourself? Use our Freedom of Information site.
