UK House of Lords committee tells Bank of England to drop £20K retail stablecoin cap and 40% central bank backing rule

UK's Financial Services Regulation Committee urged the Bank of England to scrap its proposed £20K individual and £10M business stablecoin holding caps and 40% unremunerated central-bank backing requirement, calling them premature and a viability threat to issuers. The cross-party committee's "Stablecoins: waiting for regulation" report argues the BoE should monitor markets instead of pre-emptively gating access, piling fresh political pressure on Deputy Governor Sarah Breeden's framework as the UK races to keep pace with EU and US stablecoin rules.

TLDR by @Benthic

More coverage

• UK House of Lords urges fewer restrictions on bank issued stablecoins (ledgerinsights.com)
• UK House of Lords Committee launches stablecoin inquiry - CoinGeek (coingeek.com)

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• Stablecoin Rules
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