Bank of England stablecoin caps may choke the UK’s pound-token market before launch

A House of Lords committee has told the Bank of England to rethink stablecoin caps before the UK's regime is finalized.

The Financial Services Regulation Committee published its report, Stablecoins: waiting for regulation, on June 3, turning a technical debate over reserve design into a test of whether the UK can build a pound-denominated stablecoin market without making it uneconomic from the…