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British Regulators Relegate Crypto To The Basement With Stablecoins Under Fire

Financial regulators are scrutinizing stablecoins tied to the British pound, citing concerns about their potential impact on the stability of the financial system.

Authorities outlined their approach to managing risks associated with these digital assets, which would fall under the oversight of the Financial Conduct Authority (FCA). The announcement aligns with broader discussions on digital assets, like those anticipated at the upcoming Benzinga's Future of Digital Assets conference on Nov. 14.

The event is expected to address various facets of the digital currency landscape, which now includes the regulatory perspectives and actions of major financial institutions.

In a statement released by the Bank of England (BOE), it is indicated that the focus on pound-pegged stablecoins stems from their perceived ...

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