The UK House of Lords committee urges regulators to relax stablecoin rules

According to The Block, the UK's House of Lords Financial Services Regulatory Committee pointed out that the UK is lagging behind the US and the EU in stablecoin regulation.

The committee urged the Bank of England and the Financial Conduct Authority (FCA) to revise several proposals, including reconsidering the holding limits of £20,000 for individuals and $10 million for businesses, the 40% zero-interest central bank deposit reserve requirement, and restrictions on commercial bank issuance. It also suggested that the FCA review the k-factor capital requirements scaled by issuance rather than risk.