[Several experts question the potential of stablecoins as future currency during UK House of Lords hearing] According to Cointelegraph, the UK House of Lords Financial Services Regulatory Committee held a hearing where several experts questioned the potential of stablecoins as future currency. Chris Giles, an economic commentator for the Financial Times, pointed out that the main reason stablecoins have not gained widespread adoption in the UK is the lack of clear legal and regulatory frameworks, which poses risks for households holding them as currency. He believes that stablecoins currently primarily serve as a "gateway for crypto transactions" rather than a "transformative form of currency." During the hearing, experts emphasized the necessity of strict regulation. Giles supported the Bank of England's approach to regulating stablecoins "like currency," including strict asset backing rules, resolution plans, and ultimate liquidity support. He also warned that stablecoins could be used for illegal activities, and if their application expands, international regulation of exchanges and enhanced KYC/AML checks must be strengthened.