PANews reported on January 29th that the UK House of Lords Financial Services Regulatory Committee has launched an investigation into the growth of stablecoins and proposed regulations, and is now soliciting opinions and evidence. The investigation will focus on the development of the global stablecoin market, the future trends of pound-denominated stablecoins, the potential impact of stablecoins on the UK economy and financial services, and the applicability of the proposed regulatory framework from the Bank of England and the Financial Conduct Authority (FCA).

Committee Chair Baroness Noakes, DBE, stated that the investigation aims to assess the opportunities and risks posed by the growth of stablecoins and to explore whether the regulatory framework proposed by the Bank of England and the FCA can effectively address these changes. Experts and interested parties in the field are welcome to submit their opinions.