A deputy governor of the Bank of England (BOE) played down concerns the U.K. is slipping behind other jurisdictions in introducing regulatory regimes for stablecoins, saying the rules will be in effect “just as quickly as the U.S.,” Bloomberg reported on Wednesday.
“Our aim is to make sure that our regime is up and running, just as quickly as the U.S.,” Sarah Breeden, the deputy governor for financial stability, said at a conference on Wednesday, according to the report.
The U.K. central bank is set to reveal its proposed stablecoin regulations on Nov. 10, with expectations that it will impose limits on holdings of 20,000 pounds ($26,000) on individuals and 10 million pounds on businesses.
The BOE drew the ire of many in the crypto industry when it was reported the central bank planned to limit the amount of stablecoins that individuals and businesses could own. Breeden described these plans as “less of an issue in practice than…
