US EditionStablecoin News: BoE Reportedly Planning Waivers on Limits
The Bank of England plans to exempt crypto firms from stablecoin caps to support liquidity and competitiveness amid a $314 billion global market surge, officials said.
- On Oct. 7, the Bank of England plans exemptions to its proposed stablecoin ownership limits for some UK businesses, Bloomberg reported, with caps expected by year-end.
- Earlier this year the Bank of England proposed caps of £20,000 for individuals and £10 million for companies, which crypto companies and exchanges criticized as hurting UK competitiveness.
- BOE executive director for financial market infrastructure Sasha Mills said the caps aim to mitigate risks from large outflows and protect consumers, while firms test stablecoins as settlement assets in the Digital Securities Sandbox.
- Exemptions would let cryptocurrency exchanges hold larger stablecoin reserves, and analysts say this softer stance could restore confidence and encourage UK stablecoin issuers.
- With global markets valuing stablecoins roughly $314 billion, BOE Governor Andrew Bailey recently said `wrong to be against stablecoins as a matter of principle` despite pound-pegged stablecoins totaling less than $1 million in circulation.
20 Articles
20 Articles
Bank of England Considers Exemptions to Stablecoin Holding Caps - Coin Surges
The U.K. central bank reportedly plans to grant exemptions to proposed limits on stablecoin holdings for entities like cryptocurrency exchanges. Embracing Change and Competition The Bank of England (BOE) reportedly plans to grant exemptions to proposed limits on stablecoin holdings for entities like cryptocurrency exchanges, which may have to hold large sums of these fiat-pegged […] Read Entire Article The post Bank of England Considers Exemptio…
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Bank of England Considers Exemptions to Stablecoin Holding Caps
The U.K. central bank reportedly plans to grant exemptions to proposed limits on stablecoin holdings for entities like cryptocurrency exchanges. Embracing Change and Competition The Bank of England (BOE) reportedly plans to grant exemptions to proposed limits on stablecoin holdings for entities like...
The Bank of England (BoE) plans to grant exemptions to companies regarding planned limits on stablecoin holdings. The Bank of England will reportedly grant exemptions to certain businesses, particularly crypto exchanges, which are required to hold large amounts of stablecoins.… UK...
The central bank of the United Kingdom plans to grant exemptions to the proposed limits of holding stable currencies for certain companies, such as cryptocurrency exchanges, according to Bloomberg. *** The central bank of the United Kingdom plans exemptions to the limits of holdings of stable coins. They would apply to certain companies as exchanges of cryptocurrencies, according to Bloomberg. It imposes a cap of up to USD $26,800 for individual…
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