A cross-party group of MPs in the House of Commons and the House of Lords, including Sir Gavin Williamson, former defence secretary, Viscount Camrose, shadow science minister, and Lord Hart, former prime minister Rishi Sunak's chief whip, urged Rachel Reeves, chancellor of the exchequer, to intervene on the BoE's proposed systemic stablecoin regime. In a joint open letter to the chancellor on December 11, they warned that BoE proposals to regulate stablecoins could push innovation and capital offshore.
MPs said the plans risked making the UK a "global outlier" by banning the large-scale use of stablecoins outside the digital securities sandbox, banning interest-bearing reserves and imposing what they called "impractical and innovation-inhibiting" holding caps that could push trading activity towards dollar stablecoins, such as USDCs. The signatories argued that stablecoins were becoming a "pillar of the digital economy" and warned that the UK was "moving towards fragmented and restrictive practices" that would hinder the adoption of stablecoins and undermine London's global standing.
UK lawmakers warn that the central bank's stablecoin regulation plan could push innovation overseas
2025-12-12 13:18:52
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
英国议员警告称央行的稳定币监管计划可能会将创新推向海外Next article：
USDC Treasury在以太坊上销毁约7890万美元USDC
