RE: Rumour has it10 Jun 2023 00:52
Momoni,
Re your question:
'What are most sensible long termers thinking ?'
My honest thoughts as I have espoused before on here is simply this.
1. We currently have a Financial Services and Markets Bill passing it's way right now through the HOL.
ie, Stablecoins are an integral part of that Bill, please see below link;
https://bills.parliament.uk/publications/49064/documents/2626
'This Bill brings activities facilitating the use of certain stablecoins, where used as a means of
payment, into the UK regulatory perimeter primarily by amending the existing electronic-
money and payment system regulatory frameworks. Through this approach, the government
has sought to reflect the Financial Stability Boardβs recommendations on the regulation,
supervision and oversight of global stablecoin arrangements, and the CPMI-IOSCO
consultation report on the application of the Principles for Financial Market Infrastructures to
stablecoin arrangements, and will leave room to update the regulatory framework as
international standards are developed.'
Now, given the above I would expect the FCA to hold on any decision for testing until such time that the 'Coast is Clear' , ie the Bill finally gets ratified and comes into UK legislation etc.
So far so good, the Bill/Legislation is slowly getting through the process so far.
June 13th and final stages are all that remains etc.
https://bills.parliament.uk/bills/3326
Question to ask now is :
Have GST satisfied all that they will be required to satisfy the FCA, pending this Bill?
Can't answer that question specifically as such, but all I can say is that we have Pinsent Masons acting on our behalf and am not to overly concerned by so called ADVFN rumours which are just that without any credence whatsoever.
Only GST and their advisors have the edge on where we are at this stage in the process.
Anyone can post a so called Rumour, and anyone as we have seen on this forum have tried to capitalise on that so called rumour, ie the Flip Flopper traders have a trading agenda.
Ignore them would be my advice.
GLA!