PANews October 23 news, according to CNBC, Circle's global policy director Dante Disparte said in an interview that he believes the UK will soon introduce laws for stablecoins. He said: "I think we are in a time frame of months rather than years before the introduction of formal laws for the stablecoin market." Disparte also said that given a series of events in 2022, such as the collapse of FTX, a cryptocurrency exchange with a market value of up to $32 billion, and other industry crises, the UK's more cautious approach to introducing laws against cryptocurrencies may be a good thing. However, he added that there has been an urgent need to introduce formal regulations for stablecoins as well as digital asset transactions and other crypto-related activities recently.