Lucy Frew is a Partner in Walkers' Regulatory & Risk Advisory Practice Group.

In this edition of her column, Lucy discusses the UK government's January 2021 consultation on its regulatory approach to cryptoassets and stablecoins and, in this context, considers why the very stability of stablecoins means they are getting more attention from global policymakers than other cryptoassets. Lucy also comments on related regulatory issues addressed in the call for evidence that forms part of the consultation, including the challenges posed by decentralised finance (DeFi), cross-border operations and financial crime.