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 greater risks than traditional electronic money issued on more fragile electronic databases.
ft.com/content/d80b21d7-2c7b-4...…
