"A well regulated stablecoin, being necessary to the future of the UK's financial industry, the right to innovate onchain shall not be infringed." That is my take on the approach the @bankofengland presented at the APPG on Digital Markets and Digital Money evidence session at the @UKHouseofLords yesterday. My key takeaways: The Bank of England is actively encouraging onchain builders and fintech firms to engage with the Digital Securities Sandbox (DSS), with the aim of enabling a GBP-denominated stablecoin as soon as is practically viable. A GBP stablecoin is clearly being positioned as systemically important. That means it must: - Be trusted - Have sufficient liquidity - Be interoperable across multiple protocols to reduce protocol risk That last point was particularly interesting and signals a more forward-thinking and crypto-native approach than many might expect. A GBP stablecoin would also prove as a welcome alternative for UK businesses, allowing them to avoid having to manage forex risk in using USD stablecoins. From my perspective, although there were lots of incredible contributions, especially from the likes of @Coinbase's Katie Harries on the historical context of regulations and where the DSS sits within them, and Dr Leonard Anderson on how can tech providers get in touch with the Bank of England, there was one gap: How is the Bank engaging with everyday stablecoin users to ensure their views are being included in the development of the UK's stablecoin framework? This might also help with assessing demand, another gap highlighted by the speakers. One of my missions is to encourage everyday crypto users to contribute to discussions like these and exactly why I attended with @StandWCrypto_UK's Adriana Ennab. If you want to have your voice heard, STAND WITH CRYPTO: lnkd.in/eHmwtgB7 Overall, excellent session and another proof point that, whilst other jurisdictions may be nominally ahead, the UK still has a chance at being the BEST in terms of our approach to stablecoin and crypto regulation more broadly. The next evidence session will be on exchanges. I will be staying tuned! Thanks for chairing Lord Kulveer Ranger and Daniel Aldridge MP. Enjoyed my pint at the Red Lion afterwards reviewing all the notes!

6 days to go until our next, and biggest event! 💥 Over 100 attending 👏 Get your ticket 🎟️ meetup.com/manchesterblockch… 🙏 Sponsors @cazenovecapital @EqualExperts Campfield Speaking 👇

6 days to go until our next, and biggest event! 💥 Over 100 attending 👏 Get your ticket 🎟️ meetup.com/manchesterblockch… 🙏 Sponsors @cazenovecapital @EqualExperts Campfield Speaking 👇

🗓️ Tues Nov 25th The next meetup! Check out the amazing venue at Campfield 👇 meetup.com/blockchainmanches…

You’re going to want to join our discord… lots of info coming there on testing.