GDF & CCI Response to the House of Lords Financial Services Regulation Committee Inquiry on Stablecoins
Global Digital Finance (GDF), in partnership with the Crypto Council for Innovation (CCI), submitted written evidence to the House of Lords Financial Services Regulation Committee following oral testimony provided on 25 February. The response reflects the views of our joint membership, including major global stablecoin issuers and financial market participants.
The submission highlights the potential role of stablecoins in strengthening the UK’s digital financial infrastructure and supporting more efficient cross-border payments. It also outlines key considerations for the design of a competitive and proportionate regulatory framework, including reserve calibration, regulatory coordination between the FCA and the Bank of England, and the importance of ensuring the commercial viability of sterling-denominated stablecoins.
The response emphasises the UK’s structural advantages, such as deep capital markets, experienced regulators, and the legislative foundations under FSMA 2023, and sets out recommendations aimed at enabling the UK to remain internationally competitive while supporting responsible innovation in digital assets.
Submitted:
11/03/ 2026