1/ 🧵 Bank of England is setting the compliance and the regulations for the stablecoins. Which means there would be control on exchanges and USD pegged stablecoins too.
1/ 🧵 Bank of England is setting the compliance and the regulations for the stablecoins. Which means there would be control on exchanges and USD pegged stablecoins too.
2/ 🧵 There is a paper that explains how the fiat and the stablecoins would be treated under this new regime. Which explains clearly even for international regulations.
3/ 🧵 Algorithmic stablecoins and the currency pegged stablecoins like tether would be undergoing the compliance and the regulations too. Which we have to accept in the due process.
4/ 🧵 Bank of England and FCA together would be taking actions on the variety of the crypto activities within the nation. Which includes stablecoins, popular altcoins and the coins in the market.
5/ 🧵 Check out the Bank of Englands step towards the compliances on the stablecoin.
https://inleo.io/@esmeesmith/bank-of-england-adds-compliance-for-stablecoins-in-new-regulation-paper