The writer is senior director for financial markets at Fireblocks and former head of fintech at the Bank of England
In one of her last speeches as chancellor, Rachel Reeves last week spoke of her belief that the UK has “one of the best stablecoin regimes in the world”. Just like England’s football team, the UK’s regime has truly world-class features, and has shown real progress in recent years. But in the competitive world of stablecoin regulations, the UK’s approach, like that of Thomas Tuchel’s men, continues to fall just short.