King Charles has given his official sanction to the UK's Financial Services and Markets Bill, setting the stage for increased supervision of cryptocurrencies and stablecoins. The sanction effectively converts the Financial Services and Markets Bill into an Act. This key action incorporates provisions to bring cryptocurrencies and stablecoins under regulatory purview.
Calls for accountability at the United States Securities and Exchange Commission (SEC) are growing as many industry think tanks believe there is a conflict of interest among the leadership of the regulator. Stuart Alderoty, the chief legal counsel at Ripple Labs Inc, is one of those calling for this accountability. He recently noted that the words of Chairman Gary Gensler have legal consequences, a statement made in response to a tweet from Blockchain Association Policy Lead Jake Chervinsky.
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