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Crypto
UK House of Lords passes amendment grouping crypto, stablecoins and tokenised assets
Britain\'s House of Lords passed an amendment requiring the government to draw up a comprehensive national digital asset strategy covering cryptocurrencies, stablecoins and tokenised securities. The amendment was approved 194 to 138 during the report stage of the Financial Services and Markets Bill, despite opposition from the Labour government. It would require the Treasury to publish the strategy within 12 months of enactment and seek public input. The bill still faces further votes and consideration by the House of Commons.
Telecommunications & Media
South Korea, Canada sign audiovisual content co-production agreement
South Korea’s Broadcasting Media Communication Commission and Canada’s Department of Canadian Heritage signed an agreement on cooperation in audiovisual co-productions at a ceremony in Ottawa on April 22, the commission said on Wednesday. The deal is designed to support bilateral cooperation in broadcasting programmes such as dramas and documentaries and in audiovisual content including films and animation. South Korea has completed its domestic ratification procedures, while Canada expects to finish ratification this fall.
Crypto
Bank of England hints it may withdraw proposed stablecoin holding limits
The Bank of England has left open the possibility of withdrawing proposed limits on stablecoin holdings. Deputy Governor Sarah Breeden told a UK House of Commons committee that if stablecoins spread as substitutes for bank deposits, they could lead to reduced lending and tighter credit, and that holding caps were one way to prevent that. The industry has objected, saying caps would portray Britain as hostile to crypto and push firms abroad, hurting growth and innovation.
