Summary
- The Bank of England is reportedly considering limiting stablecoin holdings to 10,000–20,000 pounds for individuals and 10,000,000 pounds for companies, respectively.
- The central bank said it is discussing the measure amid concerns that stablecoins could absorb bank deposits and damage financial stability.
- The industry and some experts are reportedly calling for a review of the policy, citing difficulties in implementing the regulation and high costs.
A proposal to limit holdings of stablecoins (virtual assets pegged to fiat currencies) is under review in the UK, and the industry is reportedly strongly opposing it.
On the 15th (Korea time), the Financial Times reported that the Bank of England (BOE) is considering limiting individual and corporate stablecoin holdings to 10,000–20,000 pounds and 10,000,000 pounds, respectively.
The Bank of England is said to be taking this measure out of concern that stablecoins could absorb bank deposits and thereby undermine financial stability.
However, the industry has strongly opposed it. According to the Financial Times, some experts say, "It is difficult to implement the regulation and it is also costly," and are calling on the UK government and the central bank to reconsider the policy.
Uk Jin
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