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News Explorer — U.K. Crypto Groups Say Regulators' Proposals on Supervising Stablecoins Need Reworking

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Feb 9, 10:00 am
Coindesk

U.K. Crypto Groups Say Regulators' Proposals on Supervising Stablecoins Need Reworking

Crypto industry groups in the U.K. have expressed concerns about the regulators' proposals for supervising stablecoins. While there are some positive aspects, advocates believe that certain aspects of the proposals need to be reconsidered, particularly regarding the treatment of stablecoin firms and the assets that should back the stablecoins. The industry is worried about the misalignment between the Financial Conduct Authority (FCA) and the Bank of England (BoE) on these issues.

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