Rishi Sunak, chancellor of the Exchequer for the United Kingdom, has included cryptocurrencies and stablecoins on the list of financial reforms the government plans to undertake in the next few years.
Speaking to lawmakers at the Lord Mayor of London’s residence on Thursday, the chancellor said the U.K. government would be implementing recommendations to establish the country as a center of fintech innovation and business. Though Sunak said the U.K. would be protecting its citizens’ access to cash, he added authorities would be monitoring updates in finance and technology as well as working on its own reforms regarding digital assets.
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