The rules, part of a long-awaited financial services and markets bill, address the use of stablecoins as payment tools. (The Logic)

Talking point: The proposed regulations on stablecoins—cryptocurrencies with prices pegged to another asset, such as the U.S. dollar or gold—follow efforts in other countries like the U.S., where Treasury Secretary Janet Yellen has pushed for new laws to address risks involved with the assets. Stablecoins faced a major test this year after the collapse of stablecoin TerraUSD left investors with billions in losses. In Canada, the federal government hasn’t announced plans to introduce new regulations for cryptocurrencies, although it said in the most recent budget that it will launch a legislative review of the sector. In a speech, U.K. Finance Minister Nadhim Zahawi said the government’s bill “reinforces the U.K.’s position as a leading centre for technology as we safely adopt crypto assets.”