UK Lords warn BoE could regulate pound stablecoins into irrelevance

- The UK House of Lords just handed the Bank of England a golden opportunity to regulate pound stablecoins into oblivion. Their brilliant strategy? Make the rules so suffocating that no one can actually use them. It’s the regulatory equivalent of banning cars because you’re afraid of traffic jams. While they debate whether a digital token is “commercially unworkable,” the rest of the world is already moving on. This isn’t regulation; it’s creative destruction of innovation, designed to protect legacy banking from the very efficiency it claims to support. If you want to kill an industry, don’t shoot it—just drown it in paperwork until it drowns itself. The pound stablecoin isn’t dead yet, but these lords are holding the shovel.