LONDON -- The U.K. is likely to see stablecoin laws introduced in a matter of "months, not years," according to crypto firm Circle's top policy executive.
Dante Disparte, Circle's global head of policy, said that he sees the U.K. will soon bring in legislation for stablecoins, a type of cryptocurrency that aims to maintain a constant peg to government currencies such as the U.S. dollar or British pound
"I think we're within months, not years" of formal laws for the stablecoin market being introduced, Disparte told CNBC in an interview last week during a visit to London.
The Treasury and the Bank of England were not immediately available for comment when contacted by CNBC.
Disparte suggested the U.K.'s lengthier approach to introducing laws targeted at crypto may have been a good thing given events that transpired in 2022, such as the collapse of FTX, a crypto exchange once worth worth $32 billion, as well as other industry crises.