Bank of England’s Stablecoin Ownership Limits Face Industry Backlash as ’Unworkable’

Crypto heavyweights slam proposed stablecoin restrictions as regulatory overreach that threatens innovation

The Bank of England's latest regulatory push hits a wall of industry resistance. Major cryptocurrency associations declare the proposed ownership caps fundamentally unworkable—another case of traditional finance trying to fit square pegs into round holes.

Market Realities vs Regulatory Fantasy

Stablecoin transactions don't pause for bureaucratic approval. The proposed limits ignore how digital assets actually move across global networks 24/7. While central bankers draft paperwork, billions in USDC and USDT flow seamlessly across borders—because that's what the technology enables.

Innovation Doesn't Ask Permission

Decentralized finance protocols won't stop executing trades because some London committee voted on ownership thresholds. Smart contracts operate on code, not compliance manuals. The market has already spoken: users want stablecoins that work like digital cash, not bank accounts with extra steps.

Another classic case of regulators bringing a quill pen to a quantum computing fight—but hey, at least the consultation fees will look good on someone's expense report.