The Bank of England may lift the £20,000 stablecoin cap after industry feedback, prioritizing flexible regulation and market stability.
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The central bank reassesses controversial stablecoin restrictions amidst industry feedback and global market growth.
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The Bank of England is walking back some of its most restrictive stablecoin proposals after Deputy Governor for Financial Stability Sarah Breeden admitted the institution may have been too cautious.
The reassessment comes amid mounting pressure from crypto firms that argue the UK risks falling behind other jurisdictions in digital asset innovation.
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BoE officials are reportedly reviewing caps and reserve rules as the UK tries to keep stablecoin issuers onshore.
Bank of England eyes looser stablecoin rules after industry pushback, per FT, as BoE deputy governor questions 40% reserve…
Restrictions proposed by the BOE prompted criticism from the crypto industry, which said they risked preventing the U.K. from…
Deputy governor says initial plans may have been ‘overly conservative’ and central bank ‘looking very hard’ at alternatives
Proposals would give UK much stricter rules for market than US or EU
In an open letter, several major crypto firms said the U.K. "must act now to avoid being a rule-taker rather than a rule-maker in…
