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Crypto
Bank of England hints it may withdraw proposed stablecoin holding limits
The Bank of England has left open the possibility of withdrawing proposed limits on stablecoin holdings. Deputy Governor Sarah Breeden told a UK House of Commons committee that if stablecoins spread as substitutes for bank deposits, they could lead to reduced lending and tighter credit, and that holding caps were one way to prevent that. The industry has objected, saying caps would portray Britain as hostile to crypto and push firms abroad, hurting growth and innovation.
Crypto
Revolut wins UK banking licence after five years
Revolut has obtained a licence to operate as a full bank in Britain, CNBC reported on Tuesday. The approval follows a five-year regulatory process and allows Revolut to offer formal bank accounts to retail and corporate customers in the UK. CEO Nikolay Storonsky (니콜라이 스토론스키) called the UK bank launch a long-standing strategic priority and a milestone in its mission. Revolut is also applying for a U.S. banking licence.
Crypto
UK House of Commons holds stablecoin hearing, finalises bank regulation plan
The UK House of Commons Financial Services Regulation Committee is holding a hearing on stablecoin regulation and reviewing the adequacy of proposals presented by the central bank and financial authorities, Cointelegraph reported on Jan. 29. The inquiry will focus on stablecoins’ impact on the traditional financial system, including opportunities and risks. The Bank of England and the Financial Conduct Authority are preparing rules, with implementation planned for October 2027.
