The Bank of England wants to cap stablecoin holdings at £20k.
It’s not about protecting users, it’s about protecting the old system.
Old system is scared of deposits leaving banks and moving onto superior system- crypto.
This is how capital controls start.

Stani.eth
@StaniKulechov
09-15
The Bank of England is proposing a cap on individual stablecoin holdings, limiting ownership to just £10,000–£20,000 per person in the name of “systemic risk.”
This is absurd, and we need to push back against this kind of regulation. Stablecoins issued onchain do not pose
The Old Money comments in FT comments always make me laugh.
These guys are losing their power and can't wrap their heads on whats happening

lol

I am so glad I don't live in England in moments like this
UK has very interesting past but very uninspiring future
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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