Lord Kulveer Ranger on digital assets, digital pound, and stablecoins

Lord Kulveer Ranger summarizes a Bank of England evidence session, concluding the Bank is engaged but cautious on digital assets, systemic stablecoins, and a potential digital pound. He warns that overly cautious policy risks the UK falling behind more permissive jurisdictions and urges regulatory clarity and a clear pathway from experimentation (e.g., the Digital Securities Sandbox) to real-world deployment. For markets, the takeaway is that timely, proportionate regulation could accelerate adoption of programmable payments and tokenized capital markets, while delay or ambiguity may push capital and innovation elsewhere. Overall the piece signals a constructive but cautious outlook for crypto in the UK, with regulatory execution the key market catalyst.