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🇬🇧 BREAKING: Bank of England BACKS DOWN on stablecoin rules
Deputy Governor Sarah Breeden admits their proposal was "overly conservative" after heavy industry pushback.
What was proposed:
▪️ £20K cap per person
▪️ £10M cap per business
▪️ 40% non-yielding reserves at BoE
▪️ Ban on unhosted wallets
What's changing:
✅ Holding caps under review
✅ Reserve structure being reconsidered
✅ FCA making GBP stablecoins a top 2026 priority
✅ Dedicated stablecoin sandbox incoming
UK is finally responding to MiCA (EU) + GENIUS Act (US) competitive pressure.
Regulators globally are shifting from "ban it" to "build it right."