Pound Sterling Stablecoin Issuer Agant: UK Cryptocurrency Legislation May Come Into Effect as Early as 2027

BlockBeats News, February 17 — GBP stablecoin issuer Agant CEO Andrew MacKenzie stated that the UK’s crypto regulatory framework is on the right track, but the pace of progress is insufficient to support the country’s ambition to become a global digital asset hub.

The UK government has repeatedly promised to position London as a global center for crypto and digital asset activities. However, legislation that fully covers stablecoins and broader crypto activities is not expected to be approved by Parliament until later this year, with full implementation possibly not until 2027.

MacKenzie pointed out that this timeline contradicts the government’s goal of maintaining the industry’s global competitiveness. In an interview at the Consensus Hong Kong conference, he said, “I think what’s most disruptive right now is that it’s taken us too long to get to this point. People just want clarity… If I have any expectations for regulators, it’s to speed up how we get things done.”

Agant recently joined a small group of crypto asset firms registered with the UK Financial Conduct Authority under anti-money laundering regulations — a process widely regarded as one of the strictest regulatory regimes globally. FCA registration is a prerequisite for conducting certain crypto asset activities in the UK, and the process is known for being rigorous and slow.