Crypto groups urge BoE to scrap £10K limit, call stablecoin cap harmful and unenforceable
Crypto firms across the UK and US are demanding that the BoE ditch its plan to cap stablecoin holdings at £10,000–£20,000 for individuals and £10 million for companies.
This plan, according to Financial Times, would make the UK the only major jurisdiction trying to lock users out of full access to stablecoins, at a time when both the US and EU are expanding regulatory clarity without placing hard limits.
The move, if enforced, would set the UK apart in a way that critics say looks paranoid and counterproductive.
Officials inside the BoE argue that caps are necessary to keep Britain’s banking system stable as crypto expands. They say too much money flowing into stablecoins could drain bank deposits, cut off credit, and cause…
