How should the UK manage the failure of stablecoin firms?

Tim Symes of Stewarts provides key takeaways from the City of London Law Society’s response to HM Treasury’s consultation on how best to regulate the failure of stablecoin companies using pre-existing insolvency legislation, including their views on a proposal to give the Bank of England a wide discretionary power to direct administrators and to consult with the FCA prior to seeking an administration order.

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