The post Bank of England ready to water down ‘overly conservative’ stablecoin proposals: FT appeared on BitcoinEthereumNews.com.
The Bank of England (BOE) is set to ease proposed restrictions on stablecoin holdings following pressure from digital asset industry participants, the Financial Times (FT) reported on Thursday. Sarah Breeden, deputy governor for financial stability, said the central bank’s initial plans to restrict individuals to owning up to 20,000 pounds ($27,000) per coin may have been “overly conservative,” according to the FT. The BOE is “looking very hard at whether there are different ways we can manage what we think is an important risk as stablecoins come into play,” Breeden said in an interview. Stablecoins are cryptocurrencies pegged to the value of a traditional financial asset, usually a fiat currency, mostly the U.S. dollar. They have been at the forefront of the development of mainstream digital asset adoption, helped by the establishment of formal regulatory r
Bank of England may ease stablecoin restrictions as UK regulators respond to crypto industry pressure and growing U.S. competition. Bank of England is reconsidering its proposed stablecoin regulations after criticism from the crypto industry. Now, officials think that some rules were too strict. Consequently, the central bank is looking at new possibilities for the expanding […]
The post Bank of England Eyes Stablecoin Rule Changes as Competition Heats Up appeared first on Live Bitcoin News.
The post Reform UK’s Nigel Farage Faces Standards Probe Over Tether Billionaire’s $6.7 Million Gift appeared on BitcoinEthereumNews.com.
In brief U.K. MP Nigel Farage is facing a formal investigation by parliamentary standards authorities for allegedly failing to declare a £5 million personal gift. The donor is Christopher Harborne, a Thailand-based cryptocurrency investor with a 12% stake in stablecoin giant Tether. Farage claimed “no obligation” to declare the gift, which was made in 2024 before he announced his candidacy for parliament. The U.K.’s Parliamentary Standards Commissioner is reportedly launching an inquiry into a $6.7 million (£5 million) gift received by Reform U.K. leader Nigel Farage from billionaire Tether investor Christopher Harborne. Farage declared he was under “no obligation” to declare the gift, which was made before he announced his intention to stand in the 2024 general election. “Believe you me, we’ve looked at this from every legal angle,” he told broadcast
The post Bitcoin keeps rallying mid-month – Is Saylor using Strategy’s STRC funding loop to pump BTC? appeared on BitcoinEthereumNews.com.
Make CryptoSlate preferred on Bitcoin has been seeing recurring mid-month strength this year, and it is becoming harder to separate it from Strategy’s (formerly MicroStrategy) expanding preferred-stock machine. The funding channel is helping the company continue to buy the flagship digital asset while adding a growing layer of cost to its balance sheet. Research firm K33 has tied the pattern to Strategy’s perpetual preferred stock, STRC, which has become a key source of liquidity for the world’s largest corporate Bitcoin holder. The instrument pays dividends at month-end, but investors must own the shares by the 15th to qualify for the payout. That deadline has turned the middle of each month into a predictable window of demand. Investors buy STRC ahead of the cutoff, driving up its trading volume, and the stock moves back toward its $100 par value.
The post Bank of England Softens ‘Overly Conservative’ Stablecoin Plans Amid Industry Pressure appeared on BitcoinEthereumNews.com.
In brief The Bank of England is reportedly reconsidering parts of its stablecoin plan. A 40% reserve floor could cost issuers £11.2 million per £1 billion in circulation. Observers say the bank’s shift could point to a move toward a more workable regime. The Bank of England is reconsidering key parts of its proposed stablecoin rules, softening its push after industry pushback over planned limits on holdings and reserve requirements. Sarah Breeden, the Bank of England’s deputy governor for financial stability, told the Financial Times on Thursday that officials were weighing other approaches to containing stablecoin-related risks as the sector grows. “It was based on experience of potential liquidity stress,” Breeden said. “But we will look hard to see if we have been overly conservative in our thinking there.” Breeden noted the reserve proposal was based o
Coinbase is stepping in as the official treasury deployer for USDC on Hyperliquid under a new framework called AQAv2, ending a fragmented stablecoin setup on one of decentralized finance’s most active perpetuals platforms. Coinbase Becomes USDC Treasury Deployer on Hyperliquid as Native Stablecoin USDH Winds Down Announced Thursday, the arrangement places Coinbase at the center […]
The post BoE Considers Easing UK Stablecoin Caps After Industry Backlash appeared on BitcoinEthereumNews.com.
Update May 14, 2:45 pm UTC: This article has been updated to include comments from Katie Haries, head of policy for Europe at Coinbase. The Bank of England (BoE) is reconsidering parts of its proposed regime for pound sterling stablecoins after digital asset companies warned that holding caps and reserve requirements could stifle adoption and make UK-issued tokens uneconomic. The central bank is looking at alternatives to temporary caps on how many stablecoins individuals and businesses can hold, and is examining whether its requirement that at least 40% of backing assets be held as non-interest-bearing deposits at the BoE is overly conservative, Deputy Governor Sarah Breeden told the Financial Times. The rethink comes as the UK government and regulators try to position Britain as a competitive hub for digital assets while containing risks to bank funding and financial stabilit
The post British Pound: Volatility focus shifts to politics – DBS appeared on BitcoinEthereumNews.com.
DBS Bank’s Philip Wee reviews recent FX volatility through the Pound, noting that GBP has been more resilient than EUR and CHF since Operation Epic Fury, helped by the UK’s lower exposure to the energy shock and higher policy rates. However, he highlights that GBP has recently underperformed as markets refocus on UK political risks and reassess Bank of England tightening expectations. Pound resilience gives way to politics risk “Following the start of Operation Epic Fury, GBP (-1.9%) was more resilient than the EUR (-2.2%) and CHF (-3.8%) in March.” “In April, GBP (+2.9%) outperformed the CHF (+2.3%) and EUR(+1.5%).” “However, GBP (-0.6%) underperformed the EUR (-0.2%) and CHF(-0.1%) in the first half of May.” “Markets now see GBP facing a reality check as focus shifts from the US-Iran conflict to 10 Downing Street.” “In the end, the GBP’s outlook remains tethered to the escalation or
