The Future of Stablecoins: Opportunities and Challenges
The UK is lagging behind other countries like Singapore, Abu Dhabi, and the US in establishing a regulatory framework for stablecoins, risking its competitiveness in financial innovation. While the US advances with the Genius Act and the USDC stablecoin, the UK remains bogged down in bureaucratic delays and risk aversion, missing a key opportunity to lead in blockchain and digital currencies. The author advocates for adopting a more dynamic, light-touch regulatory approach, similar to those in Abu Dhabi and Singapore, to foster innovation and maintain global competitiveness.