United Kingdom House of Lords Committee Urges Regulators to Relax Stablecoin Rules

Odaily Planet Daily News The UK House of Lords Financial Services Regulation Committee stated today that the UK lags behind the US and the EU in stablecoin regulation. The committee urged the Bank of England and the Financial Conduct Authority (FCA) to amend multiple proposals, including reconsidering the holding cap of £20,000 for individuals and $10 million for enterprises, the 40% interest-free central bank deposit reserve requirement, and restrictions on issuance by commercial banks. It also recommended that the FCA review the k-factor capital requirement, which scales based on issuance volume rather than risk, among other factors. (The Block)