Sarah Breeden has all admitted to being conservative, indicating that the previous approach simply doesn't work with business logic.

CryptoWorld reports that a committee in the UK House of Lords, in a new report, says the Bank of England (BOE) should reconsider its restrictions on consumer stablecoin holdings. The committee recommends that stablecoin issuers hold at least 40% of their supporting assets in interest-free central bank deposits. The report questions whether these rules could have a significant impact on the business viability of stablecoin issuers. The BOE plans to ease these restrictions, and Deputy Governor Sarah Breeden admits that these limits are too conservative.