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UK Lawmakers Challenge Bank of England’s Stablecoin Restrictions
UK Lawmakers Challenge Bank of England’s Stablecoin Restrictions
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BTCCSquare news:
A cross-party coalition of UK legislators has formally opposed the Bank of England's proposed stablecoin ownership caps, warning the policy could undermine Britain's ambitions to become a digital asset hub. In a letter to Chancellor Rachel Reeves seen by Bloomberg, peers and MPs argued stablecoins drive financial innovation through faster settlements, lower costs, and improved inclusion.
The lawmakers cautioned that restrictive measures WOULD likely push development offshore while favoring USD-pegged alternatives. Their intervention highlights growing tensions between regulatory caution and the government's pro-crypto stance as stablecoins increasingly bridge traditional finance with blockchain ecosystems.
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