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The UK House of Lords Committee calls on the country's central bank to reconsider restrictions on stablecoin holdings.

MarsBitNews
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Mars Finance News, citing CoinDesk, reported that the House of Lords Financial Services Regulatory Committee in the UK, in its latest report, urged the Bank of England to reconsider the proposed restrictions on stablecoin holdings. The committee suggested that rather than imposing a pre-set holding limit in advance, market growth should be monitored and restrictions should only be implemented when there is a clear need due to risks to financial stability. The Bank of England previously proposed a holding limit of £20,000 per stablecoin for individuals and £10,000,000 for businesses. The report also questioned the reserve asset rules, saying this could have a significant impact on the commercial viability of UK stablecoin issuers. The Deputy Governor of the Bank of England acknowledged last month that the proposed holding limits and reserve requirements are “overly conservative,” and said the bank is studying other ways to manage the risks posed by stablecoins.
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SpiralCandlestickCollecting
· 3h ago
Let the bullets fly first before clarifying financial stability risks
View OriginalReply0
Neon-LitStreetsAfterTheRain
· 3h ago
The personal limit of 20k pounds is indeed a bit tight; DeFi players can easily hit the limit just by playing around.
View OriginalReply0
GateUser-9d67589f
· 3h ago
Doubting survival ability is so harsh; regulators finally understand the business logic.
View OriginalReply0
CatPawTapToConfirm
· 3h ago
A company with 10 million sounds like a lot, but institutional entry is actually a drop in the bucket.
View OriginalReply0
GateUser-c1cab702
· 3h ago
The House of Lords is giving some leeway for innovation this time; don't push London back into regulatory wilderness again.
View OriginalReply0
TheRedTelephoneBoothInTheRuins
· 3h ago
Reserve asset rule cards are too rigid, how can issuers survive with profits as thin as paper
View OriginalReply0
ContractsMustNotLie.
· 3h ago
Adjusting according to market growth trends is much smarter than a one-size-fits-all approach.
View OriginalReply0
FogValleyBlueLake
· 3h ago
Deputy governors of the central bank all say conservative, it seems industry feedback is working.
View OriginalReply0

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