UK MP and Economic Secretary of the Treasury, Andrew Griffith, stated during a meeting of the UK Parliament Treasury Committee on January 10 that despite recent market events, the UK government is still dedicated to becoming a leading centre for the crypto industry. He emphasised that this is an area that he has focused a significant amount of attention on.
Griffith stated that in the next steps to establish the UK as a hub for the crypto industry, the UK would be introducing a wholesale stablecoin and creating a sandbox for Financial Markets Infrastructure. These measures are included in the Financial Services and Markets bill, which will be discussed further in the House of Lords on January 10th.