Reported 15 days ago
The Bank of England has stated it will remove proposed caps on stablecoin holdings only when it is confident they do not threaten financial stability. This cautious approach comes in light of concerns about rapid outflows of deposits into stablecoins, which could negatively impact credit availability. The BoE plans to set limits for individuals and businesses, with a consultation on updated proposals expected next month. According to Deputy Governor Sarah Breeden, the limits would be lifted once the transition no longer jeopardizes the provision of finance to the economy.
Source: YAHOO