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 data-ct-non-breakable=”null” href=”https://cointelegraph.com/learn/articles/stablecoins-101-what-are-crypto-stablecoins-and-how-do-they-work” title=”null”>stablecoins were first floated in a November 2023 discussion data-ct-non-breakable=”null” href=”https://www.bankofengland.co.uk/paper/2023/dp/regulatory-regime-for-systemic-payment-systems-using-stablecoins-and-related-service-providers” rel=”noopener nofollow” target=”_blank” title=”null”>paper as a means to ensure financial stability. As plans progressed, data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/uk-crypto-groups-oppose-bank-of-england-stablecoin-cap” title=”null”>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 data-ct-non-breakable=”null” href=”https://www.bankofengland.co.uk/speech/2025/october/sarah-breeden-panellist-at-fintech-foundation-2025-dc-fiintech-week” rel=”noopener nofollow” target=”_blank” title=”null”>said the limits…
