The encryption industry urges the UK’s StableCoin’s plan to compete with us star-news.press/wp

In a recently open letter to Finance Minister Rachel Reeves, personalities from the encrypted currency industry call for the development of the United Kingdom (UK) to develop a national strategy Stablecoin, It is seen as necessary to put the UK at the forefront of the scene of digital assets.

This comes after the United States has put itself to take advantage of the adoption of the growing digital assets through the legislation in support of crying, which led to President Donald Trump’s mission to establish the country as the world of encryption in the world.

The UK encryption sector is at risk?

the letterThe support of 30 players in this field, stresses the need for a proactive and coordinated approach to the cryptocurrencies in dollars. He argues that it should not be seen only as possible risks, but as an integrated component of the financial infrastructure that can be adopted with responsibility.

The message highlights that the United Kingdom must act quickly to ensure its competitiveness with countries like the United States, which has taken important steps to integrate Stablecoins into its financial systems with the passage of Genius.

Industry players have expressed their concerns about the current organizational position of the United Kingdom on Stablecoins, indicating that it puts the coding sector in the country in an unfavorable position.

One of the basic issues is the legal classification of Stablecoins As “encryption bells with reference to the flach currency.” Critics argue that this definition focuses a lot on the form instead of the Stablecoins function, which is similar to specifying an examination only as a card indicating the currency.

The establishment of the National Stablecoin strategy can enhance the United Kingdom’s position as a global financial center, confirm, and generate new revenue flows, especially in fees and foreign currency exchange, while supporting demand for government bonds.

STABLECOIN capabilities key

The message received approvals from CEOs and companies such as Crypto Excination Coinbase, Kaken, Copper, Fireblocks, Bito, Asset Manager and Crypto Trading trading fund (ETF) Issur VANECK.

Darg Maher, head of the HSBC digital asset research, highlighted the capabilities of Stablecoins to fill the gap between traditional financing and the world of digital assets.

He described them as the monetary equivalent of digital assets, as a founding currency for almost all encryption transactions. Maher also pointed out that Stablecoins can facilitate money transfers using Blockchain technologyProviding a modern alternative to the UK financial system.

Despite its capabilities, organizational obstacles remain a great obstacle to the widespread adoption of Stablecoins. Maher stressed that the creation of an appropriate organizational environment is very important to cancel the possibility of the full capabilities of Stablecoins in the United Kingdom.

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