Stablecoins to be legalised in UK despite TerraUSD crash

The UK government is preparing a legislation to make stablecoins a legal tender in the country. In an attempt to become a crypto-friendly nation, the UK has confirmed it will bring certain stablecoins under its payment framework. This will allow stablecoins to become a recognised form of currency. Recently, the Queen’s annual address saw a subtle go-ahead to the proposed legislation.