UK Economy Secretary Andrew Griffith: The priority this year is to pass the Financial Services and Markets Bill by Easter

Speaking at The City UK annual dinner, Economy Secretary Andrew Griffith said the priority this year was to pass and deliver the Financial Services and Markets Bill, hoping to have it enshrined in law by Easter. Foresight News previously reported that in October 2022, according to CoinDesk, lawmakers in the U.K. House of Commons voted in favor of passing the proposed Financial Services and Markets Bill to include cryptocurrencies as regulated financial services in the country. Regulations extend to measures for payments-focused stablecoins. In November, as CoinDesk reported, a committee of the House of Commons in the United Kingdom passed new laws restricting crypto advertising and banning services from unauthorized operators, a measure that has now been formally incorporated into the government’s Financial Services and Markets Act.