Bank of England ready to water down 'overly conservative' stablecoin proposals: FT
CoinDesk
The Bank of England is reconsidering restrictive stablecoin proposals following feedback from the crypto industry regarding competitiveness and operational challenges.Summary
The Bank of England (BOE) is signaling a potential shift in its approach to stablecoin regulation. Deputy Governor Sarah Breeden indicated that initial proposals, including holding limits for individuals and strict requirements for asset backing, may have been too restrictive. Industry participants warned that these measures would hinder the U.K.'s competitiveness in the digital economy and present operational burdens. Consequently, the BOE is exploring alternative methods to manage financial risks while remaining open to adjusting its planned caps and deposit requirements for stablecoin issuers.
(Source：CoinDesk)