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Lord Livermore (Lab)

Speaking in the House of Lords on 16 October 2025

Debate

Stablecoin Ownership

Contribution

I am grateful to the noble Lord for his question. I am sure that, as chair of that group, he could help educate very many of us in this House. As I have said, the Government recognise that facilitating stablecoin innovation is important for UK competitiveness, but it is a matter for the Bank of England, as the independent regulator for systemic stablecoin, to design the regime it sees as necessary to manage the associated risks. As I understand it, in November 2023, the Bank published a discussion paper on its proposed regulatory regime for systemic payment systems using stablecoin, seeking industry feedback. Following further informal engagement, the Bank will formally consult on its systemic stablecoin regime in the coming months.

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