Bank of England’s £20,000 stablecoin cap sends ‘terrible signal’ to crypto, says Lord – DL News
- The Bank of England’s stablecoin limits received fresh criticism.
- Restricting stablecoin use sends ‘terrible signal’ to businesses, says member of the Lords.
- The central bank’s deputy governor defended the limits in a Wednesday speech.
Pushback is mounting against the Bank of England’s proposal to restrict stablecoin holdings for UK individuals and businesses.
On Thursday, the central bank’s plan, which would limit individual stablecoin holdings to between £10,000 and £20,000, and business to $10 million, received fresh criticism in the House of Lords.
“Does this not send a terrible signal to people who want to base their crypto businesses in the UK?” Lord Ed Vaizey, co-chair of the UK Parliament’s Crypto and Digital Assets All…
