BOE Open to Changing Stablecoin Caps After Industry Backlash

Bank of England Deputy Governor Sarah Breeden hinted that UK regulators may soften their relatively strict approach to limits on stablecoin holdings which sparked a backlash from the digital asset industry.

The central bank is “genuinely open to other ways of achieving the objective” of protecting the UK economy against the “very real risk” of a sudden shift caused by customers moving their deposits from banks to stablecoins, Breeden said on Wednesday.