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Bank of England: Proposes £20,000 Cap on Individual Stablecoin Holdings
BlockBeats News, November 10th, the Bank of England proposed that among the assets supporting stablecoins, 60% can be held in short-term UK government bonds, and at least 40% must be deposited with the Bank of England.
The Bank of England proposed a cap of £20,000 for individual stablecoin holdings and a limit of £10 million for corporate stablecoin holdings. Stablecoins transitioning from the UK Financial Conduct Authority (FCA) regulatory regime can have up to 95% of their reserve assets invested in short-term government bonds. (Jinse)
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