Stablecoin Limits in UK Set to Be Temporary Says BoE Deputy

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Bank of England Deputy Governor Sarah Breeden has clarified that the central bank’s plan to restrict stablecoin holdings and transaction size will only be a temporary measure to ensure stability in the financial system.

The proposed limits on stablecoins were first floated in a November 2023 discussion paper as a means to ensure financial stability. As plans progressed, industry groups lashed out in September, arguing that they would stifle innovation and limit growth. 

However, in a speech at DC Fintech Week on Wednesday, Breeden said the limits…



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Stablecoin Limits in UK Set to Be Temporary Says BoE Deputy


Bank of England Deputy Governor Sarah Breeden has clarified that the central bank’s plan to restrict stablecoin holdings and transaction size will only be a temporary measure to ensure stability in the financial system.

The proposed limits on stablecoins were first floated in a November 2023 discussion paper as a means to ensure financial stability. As plans progressed, industry groups lashed out in September, arguing that they would stifle innovation and limit growth. 

However, in a speech at DC Fintech Week on Wednesday, Breeden said the limits…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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