The Bank of England has revealed that it is reconsidering two of the more contentious aspects of its proposed stablecoin framework after pressure from many in the crypto asset sector. Crypto companies have complained that the proposed regulations would be too restrictive and would hold back the industry in the U.K. in comparison with other global financial markets.
In an interview with the Financial Times on May 14, Sarah Breedon, the BoE’s deputy governor for financial stability, said the Bank is having second thoughts about some elements of its proposed rules. But she stressed that it remained committed to making “sure that this new form of money is safe.”
