Episode Details

The Bank of England proposes limits on stablecoin holdings to prevent mass shifts from bank deposits, potentially impacting business and home lending. Deputy Governor Sarah Breeden shares this with UK lawmakers, emphasizing safety and credit flow. Industry groups criticize the limits, fearing an anti-crypto image, slow innovation, and growth hindrance. Breeden clarifies that self-custody wallets for stablecoins are not permitted under UK rules. The Financial Conduct Authority plans a testing sandbox for stablecoin firms in 2026, with applications for sterling stablecoins opening later this year.

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