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UK fintech's stablecoin clash with the Bank of England
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UK fintech's stablecoin clash with the Bank of England
The Bank of England recently announced several major updates to the regulatory framework for sterling-backed stablecoin digital currencies. In many ways these updates were a capitulation to an industry that has warned of overly cautious and restrictive rules hurting the British stablecoins chances of being competitive. The key changes included the scrapping of the previously proposed £20,000 cap for held coins in favour of a £40bn issuance cap a…
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