Bank of England Deputy Governor Sarah Breeden has clarified that the central bank’s plan to restrict stablecoin holdings and transaction size will only be a temporary measure to ensure stability in the financial system.
The proposed limits on stablecoins were first floated in a November 2023 discussion paper as a means to ensure financial stability. As plans progressed, industry groups lashed out in September, arguing that they would stifle innovation and limit growth.
However, in a speech…
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