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UK Crypto Industry Pushes Back on BOE Unhosted Wallet Ban Proposal
UK crypto firms criticized a Bank of England proposal that could bar unhosted wallets for stablecoin holdings in the UK. Benoit Marzouk of tGBP and Joey Garcia of Xapo Bank said the measure would weaken peer-to-peer transfers and hurt the UK’s competitiveness. Garcia said any final change would still need formal consultation, industry input, and rulemaking under the existing framework.