UK Crypto Industry Expresses Concern Over Bank of England Stablecoin Cap
UK Crypto Industry Expresses Concern Over Bank of England Stablecoin Cap
Industry groups are largely unimpressed by potential exemptions from the Bank of England's proposed stablecoin cap, arguing that such a cap would be challenging to enforce and would impede the growth of the UK's nascent crypto sector.
Bank of England's Stablecoin Cap Raises Industry Eyebrows
The crypto industry in the United Kingdom is voicing significant apprehension regarding the Bank of England's discussions around a potential stablecoin cap, even with possible exemptions. According to reports from decrypt, prominent industry groups contend that implementing and enforcing any such cap would prove exceedingly difficult. Furthermore, these groups warn that such a regulatory measure could actively slow down the development and innovation within the UK's rapidly growing cryptocurrency sector, potentially hindering its competitive edge.