Agant CEO says UK crypto legislation could come into effect by 2027

Andrew MacKenzie, CEO of pound stablecoin issuer Agant, stated that although the UK's cryptocurrency regulatory framework is moving in the right direction, the pace of progress is not sufficient to support its goal of becoming a global center for digital assets. He pointed out that legislation that comprehensively covers stablecoins and broader cryptocurrency activities is expected to receive parliamentary approval later this year and may not take effect until 2027. Agant plans to launch a stablecoin GBPA fully supported by the British pound and has completed registration with the Financial Conduct Authority (FCA) in the UK. The goal is to provide institutional investors with an infrastructure for payment, settlement, and tokenization of assets, rather than targeting the retail market.