The House of Lords (Financial Services Regulation Committee) has announced the launch of an inquiry into the growth and proposed regulation of stablecoins in the UK. The Committee will examine the development of global and UK stablecoin markets (and its comparison to US and EU markets), expected future growth of sterling‑denominated stablecoins and the opportunities and risks posed to the UK economy, financial services sector, retail consumers and monetary policy. It will also consider the implications of the Bank of England and UK Financial Conduct Authority's proposed regulatory regimes for systemic and non‑systemic stablecoins and whether they are measured and proportionate. A call for evidence, including six questions for written submissions, accompanies the press release. The deadline for responses is 23:59 on 11 March.
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