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OPINION: Why the UK’s stablecoin pivot is an example of regulatory credibility

People taking a break sit in the sun and eat lunch outside the Bank of England and the Royal Exchange at Bank during the mild weather in London, England.
Photo: John Keeble/Getty Images

Thomas Cattee discusses whether the UK can deliver the one thing global financial markets value most: regulatory certainty.

When the Bank of England recently signaled a softer approach to aspects of its proposed framework for sterling stablecoins, much of the market interpreted it as a response to industry pressure.

That may be true in part. But in our view, the bigger story is not about crypto lobbying or