U.S., U.K. unveil stablecoin roadmap as CLARITY Act stalls: ‘For their own political gain!’
The U.S. and U.K. have jointly affirmed their commitment to fostering innovation in digital assets by outlining a cooperative roadmap for stablecoins and tokenized assets. Their 10-point statement emphasizes reducing regulatory friction, particularly by avoiding disproportionately burdensome reserve requirements for stablecoin issuers. This follows the Bank of England's softened stance on reserve rules, now more aligned with the U.S. GENIUS Act framework.
However, a divergence in regulatory progress is emerging. The U.K. is advancing towards a comprehensive crypto regulatory framework set for 2027, which includes measures like deferring capital gains tax on crypto lending. In contrast, the U.S. faces significant political hurdles, with the key crypto market structure bill, the CLARITY Act, stalled and its chances of passage dropping to yearly lows. This political deadlock, marked by anti-tech rhetoric, risks leaving the U.S. behind in establishing a clear and frictionless framework for digital assets.
ambcrypto07/15 12:03
