Collison referred to the European Union’s Markets in Crypto-Assets (MiCA) regulation taking force in late 2024, while the UK Financial Conduct Authority is still seeking public feedback on new stablecoin rules as recently as May 28.
The latest insights by Collison align with reports suggesting that banks in the United States have been seeking even clearer guidelines from the government clarifying what they can do in crypto.
On the other hand, despite falling behind in terms of stablecoin regulation, the UK has seen the largest increase in new crypto owners in the past year, outpacing Europe, according to Gemini.