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Stablecoins Evidence Session

Our next meeting is at 5.00 p.m. on the 4th June in Committee Room 20. We will be looking at Stablecoins and what the UK needs to do so that we stay in the game. We are behind some nations such as the US and the EU in legislative / regulatory terms. We will hear from Industry and Academic experts about what the strategy should be. The speakers are:
Adam Jackson – Innovate Finance
Tony McLaughlin – Found UBYX, a Stablecoin clearing system
Paul Sisnett – an digital currency infrastructure provider
Keith Bear – Judge School, University of Cambridge
 
Financial Stability

For the United Kingdom, the emergence of  stable coins offers both opportunities and challenges that will influence its economy, financial infrastructure, and global competitiveness. The shift to digital currencies could disrupt existing financial institutions and create transitional challenges for businesses and consumers. Clear policies and phased implementation will be essential.

While digital money and markets bring exciting opportunities, they also introduce significant risks. Without proper regulation, these risks could undermine financial stability and consumer protection. New digital money and markets hold transformative potential for the UK. By fostering innovation, these technologies can enhance the country’s competitiveness and drive economic growth. However, to ensure sustainable progress, they must operate under robust regulatory and policy frameworks that balance innovation with oversight.