The UK has decided to limit the amount of stablecoins that individuals can hold to 20,000 pounds (about 38 million won).
The Bank of England (BOE) released a draft of stablecoin regulations with the same content on the 10th (local time).
Under the new rules, individuals will be able to hold up to £20,000 per pound-denominated stablecoin. Institutions will be permitted to hold up to £10 million, with exceptions available if deemed necessary for business purposes. This stems from the Bank of England's concerns about a potential rapid outflow of deposits into stablecoins. Stablecoin issuers will be required to deposit at least 40% of their reserves with the Bank of England. The remainder can be covered by short-term government bonds. The Bank of England plans to finalize the rules in the second half of next year.
- Reporter Park Min-joo
< Copyright ⓒ Decenter. Unauthorized reproduction and redistribution prohibited >
