UK lawmakers urge BoE to ease stablecoin regulations
A House of Lords committee warned that strict rules on holding limits could hinder the sterling market. The central bank plans to publish final rules this month.
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United Kingdom lawmakers urged the Bank of England to soften proposed stablecoin regulations to prevent stifling the development of a nascent sterling-backed digital asset market. Sterling-denominated tokens currently represent a tiny fraction of a global market dominated by United States dollar-linked assets. The House of Lords Financial Services Regulation Committee warned that overly strict requirements could hinder growth for domestic digital assets as the BoE seeks to finalize its framework.
