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Why is the UK planning to cap stablecoin holdings?
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Investors have found a loophole in the system, and the system is now trying to patch it. In fact, in some countries (I don't know about the UK) taxes are paid on cryptocurrency transactions, so stablecoins are useful for avoiding frequent dives into fiat.
@Olaf yes I agree
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Investors have found a loophole in the system, and the system is now trying to patch it. In fact, in some countries (I don't know about the UK) taxes are paid on cryptocurrency transactions, so stablecoins are useful for avoiding frequent dives into fiat.
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Caps on stablecoins = banks protecting liquidity.
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If money flows out too fast, lending gets hit hard.
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£20k limit feels like a “slow adoption” strategy.
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Regulation always follows where money moves.
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Crypto vs banks tension just getting started.
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proposal suggests a temporary cap
