UK Lords warn BoE could regulate pound stablecoins into irrelevance
CoinTelegraph·
60-second summary
The UK House of Lords committee is warning that if the Bank of England imposes overly strict regulations, pound sterling stablecoins could become commercially unworkable, potentially rendering them irrelevant in the market. The committee supports regulation, but fears it may inadvertently stifle innovation, impacting the UK's ability to compete in the global digital currency space.
A UK House of Lords committee warned that strict stablecoin rules could make pound sterling tokens commercially unworkable despite supporting regulation.