BOE Says UK Stablecoin Rules Will Be in Place 'as Quickly as the U.S.:' Bloomberg

Bank of England (BOE) Deputy Governor Sarah Breeden stated that the U.K.'s stablecoin regulatory regime will be operational "just as quickly as the U.S." Breeden addressed concerns about the U.K. lagging in regulation, noting that the BOE plans to reveal its proposed stablecoin regulations on November 10. These proposals are expected to include holding limits of 20,000 pounds for individuals and 10 million pounds for businesses. Breeden justified these limits by pointing to structural differences in the U.K. mortgage market, which relies heavily on commercial bank lending, unlike the U.S. market, which uses entities like Fannie Mae and Freddie Mac funded through financial markets. She suggested this difference makes the need for such limits more pertinent to the U.K.'s transition to a world with stablecoins.

(Source：CoinDesk)