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UK Lords warn BoE could regulate pound stablecoins into irrelevance
A UK House of Lords committee warned that strict stablecoin regulations could render pound sterling tokens commercially unworkable, despite supporting regulatory frameworks. The committee highlighted potential risks of overregulation undermining the viability of pound-denominated stablecoins.
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Adjacent reporting
- UK House of Lords committee calls on Bank of England to reconsider proposed stablecoin restrictions
- Bank of England set to ease sterling stablecoin rules amid industry concerns: FT
- ECB warns EU finance ministers that easing euro stablecoin rules would weaken banks: Reuters
- BoE’s Bailey warns of looming ‘wrestle’ with US over stablecoin rules, flags run risk for UK
- BIS warns dollar stablecoins could strain banks and policy
- ECB official says stablecoins risk importing old market flaws