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Deep Tide TechFlow News, June 3rd, according to Reuters, the UK Parliament's cross-party House of Lords Committee on June 3rd urged the Bank of England to soften its stablecoin regulation plans, recommending a reconsideration of the proposal to limit the amount of stablecoins held by individuals and businesses, and to cancel the requirement for issuers to back their stablecoins with interest-free deposits. The committee believes that the current plan is too strict and may hinder the development of the pound stablecoin market, calling for regulators to adopt a "principle-based, less rigid regulation" approach.
The Bank of England stated that the final policy and draft rules for systemic stablecoins will be officially released in late June.