**[UK House of Lords Questions Coinbase Executive on Stablecoin Regulation]** On March 4, the UK House of Lords questioned Tom Duff Gordon, Coinbase's Vice President of International Policy, on Wednesday regarding whether stablecoins could lead to a loss of bank deposits and pose risks to the financial system. Gordon stated that fully reserved and regulated stablecoins, backed 1:1 by cash and high-quality government securities, can be redeemed at face value, making them safer than uninsured bank deposits. He added that stablecoins can reduce payment costs and accelerate cross-border payments. Members of the House of Lords raised concerns about the risks of stablecoin redemption and their impact on banks and criminal activities. Gordon countered that fears of bank disintermediation are exaggerated and emphasized that Coinbase enforces strict KYC and anti-money laundering measures. Innovate Finance's Chief Strategy Officer Adam Jackson warned that UK regulations might be weaker compared to those in the US and Europe.