🇬🇧 UK to allow FCA authorized firms to work with overseas stablecoins! 🌐

- New regulations supervised by Bank of England, FCA, and PSR

- Focus on minimizing risks and ensuring customer protection

- Targeting fiat-backed stablecoins used for payments

What's the catch? 🧐

- Payment arranger must ensure overseas stablecoins meet FCA standards

- Firms conducting issuance & custody activities subject to FCA rules

- Stablecoins on crypto exchanges not covered until phase 2

What do you think of these new regulations? Share your thoughts below! 👇