News list for "Stablecoin holdings"
The Bank of England has proposed a £20,000 cap on individual stablecoin holdings and £10 million for businesses.
Sarah Breeden, deputy governor of the Bank of England, said the BoE would lift the current proposed cap on the number of stablecoins held by individuals and businesses once they no longer posed a threat to the economy, noting that the rapid adoption of stablecoins could lead to a "massive outflow" of bank deposits.
The Bank of England plans to exempt companies from proposed limits on stablecoin holdings, signalling a softening of its stance towards crypto assets in the face of US competition. The Bank of England intends to grant exemptions to companies such as cryptocurrency exchanges that need to hold large amounts of stablecoins, and also allow companies to settle in stablecoins in an experimental digital securities sandbox, according to people familiar with the matter, indicating that Governor Andrew Ba...
According to the Financial Times, cryptocurrency institutions are calling on the Bank of England to drop plans to limit stablecoin holdings, which would make the U.K. more tightly regulated than the U.S. or the European Union. The Bank of England plans to impose holding limits on all systemic stablecoins: capped at 10,000 to 20,000 pounds for individuals and 10 million pounds for corporations. The central bank is concerned that these tokens could weaken the banking system by siphoning off bank d...
The latest Reown survey shows that the number of stablecoin holders has surpassed SOL holders, accounting for 38% and 37% respectively, indicating that cryptocurrencies are moving from speculation to practical applications. Bitcoin and Ethereum still dominate, each accounting for 48% of users. The survey revealed that while transactions remain the most popular on-chain activity (36%), payments have jumped to second place (10%), and 14% of users say it is their most anticipated future application...
According to the Korea Economic Daily, the governor of the Bank of Korea, Ri Chang-yong, expressed a cautious attitude towards the launch of the Korean won stablecoin. Ri Chang-yong said that although he is not opposed to the Korean won stablecoin, he needs to consider factors such as the stability of the foreign exchange market and changes in the structure of the banking industry. Concerns that the Korean won stablecoin may increase the demand for US dollar stablecoins, which will bring difficu...
According to rwa.xyz data, the number of stablecoin holders has grown to 93.60 million this year, a record high. There are currently 35 stablecoins with a total market cap of $157 billion. Among all stablecoins, USDT, which leads with a market cap of $114.07 billion, accounts for more than 80% of stablecoin addresses, followed by USDC and BUSD.
