The UK government will develop plans to regulate stablecoins and staking services this month

The British government will draw up plans this month to regulate the cryptocurrency industry in an effort to dispel the lure of the U.S. under Donald Trump, in an effort to reassure businesses about their prospects in the U.K.
According to people familiar with the matter, the Treasury Department is planning two pieces of legislation on stablecoins (tokens pegged to the value of less volatile assets such as the U.S. dollar), as well as an exception sought by cryptocurrency providers to exclude so-called staking services from existing financial regulations.
The decision to press ahead with crypto regulation comes as the industry celebrates the surge in crypto assets, including bitcoin, following Mr. Trump's election victory. The risk for the UK is that start-ups look to other jurisdictions, such as the US, where the rules are clearer or more favourable.