UK crypto industry representatives call for a national strategy for stablecoins, warning the country risks falling behind the US

In an open letter to the Minister of Finance, 30 representatives of the crypto industry, including from Coinbase and Kraken, emphasized the need for a national strategy for stablecoins. They argue that stablecoins should be considered an essential financial infrastructure, not a risk. Although the global market for stablecoins is valued at more than $280 billion, those linked to the pound have a capitalization of just £461,224. A well-defined strategy could strengthen London's position as a global financial center and generate tax revenues. But regulation remains a major challenge.