BoE go soft on stablecoin rules after people complain, dey consider less conservative reserves

Bank of England (BoE) talk say dem dey rework di planned stablecoin rules afta say UK crypto industry and lawmakers push back. Deputy Governor Sarah Breeden tell Financial Times say di original approach fit don ‘‘too conservative,’’ and regulator dey ‘‘look well’’ at oda options to meet financial stability goals. For earlier November consultation, BoE bin discuss temporary stablecoin ownership limits (£10,000–£20,000 for individuals; up to £10 million for businesses) and one reserve model for systemic issuers wey require at least 40% of reserves as unremunerated central-bank deposits to support redemptions during stress. Breeden accept say di ownership and reserve structure fit hard to enforce, industry talk say compliance go ‘‘cumbersome’’ and fit need costly systems (e.g., digital IDs). Lawmakers also warn say di stance fit affect UK competitiveness versus US and EU. For crypto traders, dis na sentiment-positive update: less regulatory friction round stablecoin rules fit support di UK stablecoin and payments ecosystem. But di final rule set never final yet, so near-term price action—especially for USDC—fit still dey driven by headlines rather than structural confirmation.