The UK government is “pushing very hard” to legislate new regulations on stablecoins and crypto staking services within the next six months, the country’s Economic Secretary to the Treasury Bim Afolami said Monday during an event hosted by Coinbase, according to Bloomberg.

The official said that the government intends to “get these things done as soon as possible” over the next six months, Bloomberg reported. While the UK has yet to set a date for its next general election, it is legally bound to take place by January 2025.

Afolami’s comment followed the Treasury’s consultation response last August, in which it agreed on the arrangement that the Bank of England and the Financial Conduct Authority would co-supervise systematic stablecoins.

Stricter rules

In October 2023, the UK …