UK Lords Warn on Overregulation of Pound Stablecoins

A UK House of Lords committee has cautioned that overly stringent regulations could render pound sterling stablecoins commercially unviable. While the committee supports a regulatory framework for digital assets, it warns that the Bank of England's approach risks stifling innovation and driving the market offshore. The report highlights the need for a balanced regime that fosters growth while ensuring financial stability. This regulatory uncertainty may temper enthusiasm for GBP-pegged tokens in the near term, as market participants await clearer guidelines.

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