The Financial Services and Markets Bill aims to acknowledge crypto as a regulated undertaking and stablecoins as a viable form of payment within the framework of current legislation
Lawmakers in the upper chamber of the United Kingdom's Parliament are making progress with legislation that could facilitate crypto adoption within the country. The Financial Services and Markets Bill is a legislative initiative that is aimed at strengthening the nation's financial services industry.
On June 19, during a session of the House of Lords, quite a few members advocated for the passage of the bill, which would make it possible to strengthen the nation's financial services industry. The bill successfully underwent a third reading in the House of Lords, representing one of the final stages before potential amendments are considered, and the bill is signed into law.