• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
British Treasury

British Treasury To Hammer Out Crypto Law Despite Bank Of England’s Doubts

Christian Encila
by Christian Encila
3 years ago
·
Posted in Crypto regulation, Stablecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In April of last year, the British Treasury unveiled a number of efforts aimed at establishing the United Kingdom as a premier destination for crypto technology and investments.

In a press release that month, the Chancellor of the Exchequer, Rishi Sunak, stated that the steps described will help ensure that companies can “invest, develop, and grow” in the United Kingdom.

Three months later, on July 6, Sunak announced his resignation as Chancellor of the Exchequer, citing a series of claims against the government led by Boris Johnson.

Sunak was not the only individual to do so. In addition to other ministers, Health Secretary Sajid Javid left Johnson’s cabinet.

Suggested Reading | Jordan Belfort, The ‘Wolf Of Wall Street,’ Advises: Buy Bitcoin Today And Make Money

Rishi Sunak. Image: PanaTimes

New Crypto Framework In The Works

Despite his decision to separate himself from the Johnson administration, Sunak continues his work.

Despite the Bank of England’s concerns about the financial stability of the technology, the former finance minister is moving through with a proposed legislation that will clear the way for everyday cryptocurrency payments.

As part of the aim of the British Treasury and the government to make Britain a “crypto hub,” the British Treasury has indicated that it will introduce legislative changes recognizing stablecoins as a legitimate form of payment.

Suggested Reading | Crypto Lender Voyager Digital Goes Bankrupt After Three Arrows Collapse

This will allow consumers to utilize stablecoin payment services with confidence, British Treasury official John Glen stated at the recent Global Finance Summit.

Glen noted that the government will adopt this measure in an effort to establish a world-leading regulatory framework for stablecoins.

The UK’s financial regulator, the Financial Conduct Authority, released a study on cryptocurrencies in 2019 stating that organizations using digital assets for cross-border payments may be subject to payments services legislation, but the tokens themselves would not be regulated.

Crypto total market cap at $854 billion on the daily chart | Source: TradingView.com

Bank Of England, British Treasury At Loggerheads

Meanwhile, the disagreement between the British Treasury and the Bank of England on cryptocurrencies is the most recent squabble between the two institutions, which have been at odds over Brexit policies, the cost-of-living dilemma, and other hot issues.

BOE’s warning comes after crypto prices have plummeted so severely in recent months that analysts have begun to doubt the technology’s future.

Andrew Bailey, governor of the Bank of England, remarked:

“The experience we’ve had over the past few weeks demonstrates that there are problems in both the unbacked crypto world and the so-called stablecoin sector.”

The Treasury stated the following in response to a consultation on crypto assets:

“The reasoning behind this is that certain stablecoins have the potential to become a popular form of payment, including among retail consumers, thereby increasing consumer choice and efficiency.”

Regulatory Framework For Stablecoins: Clearing The Way

Stablecoins are cryptocurrencies designed to maintain their value. The British Treasury and the government’s intention to build a world-leading regulatory framework for stablecoins is expected to pave the way for enterprises to enable daily transactions in stablecoins.

The government announced that consultations will be held before the year ends regarding the regulation of a broader range of crypto assets and related transactions.

Featured image from BTCManager, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Euro Stablecoins

Nine Banks Unite On Euro Stablecoin, Eyeing Rollout In Second Half Of 2026

3 hours ago
Stablecoins CFTC

Stablecoins Recognized As Future Collateral: CFTC Opens Public Consultation

1 day ago
solana

Kazakhstan Launches Solana-Powered Stablecoin In Partnership With Mastercard

1 day ago
crypto

Crypto Market Structure Bill: Democrat Senators Push For Bipartisan Authorship

4 days ago
GENIUS Act

US Treasury Seeks Public Comment On Implementation Of GENIUS Act – Details

5 days ago
crypto

Crypto Regulation: US Senate Banking Updates Market Structure Bill

2 weeks ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    2 hours ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    2 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    3 days ago
  • Snorter надхвърли $4 милиона след...

    4 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    7 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.