Tag: Stablecoin

Bank Of England Sets 2026 Timeline For Final Stablecoin Rules

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The United Kingdom’s central bank is moving toward stablecoin regulation by publishing a consultation paper proposing a regulatory framework for the asset class. The Bank of England (BoE) on Monday released a proposed regulatory regime for sterling-denominated “systemic stablecoins,” or tokens it said are widely used in payments and therefore potentially pose risks to the UK financial stability. Under the proposal, the central bank would require stablecoin issuers to back at least 40% of their liabilities with unremunerated deposits at the BoE, while allowing up to 60% in short-term UK…

BoE suggests limiting stablecoin holdings to £20,000 per head

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Key Takeaways The Bank of England has proposed limiting individual stablecoin holdings to £20,000 per person. These holding limits are described as temporary, aiming to ensure financial stability during the transition to new digital asset regulations. Share this article The Bank of England (BoE), the UK’s central bank, has suggested temporarily limiting individual stablecoin holdings to £20,000 as part of its regulatory framework for digital assets, according to Bloomberg. The BoE has described the proposed stablecoin holding limits as temporary measures to maintain stability during the shift to new digital…

Pakistan considers rupee-backed stablecoin to boost financial access

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Key Takeaways Pakistan may launch a rupee-backed stablecoin to enhance financial access and modernize payments. The initiative is considered alongside the creation of comprehensive digital asset regulations. Share this article Pakistan is exploring the launch of a rupee-backed stablecoin, a cryptocurrency designed to maintain value stability through asset pegging, as part of broader efforts to enhance financial access and modernize its payment systems, according to Daily Times. Policymakers are evaluating the stablecoin launch alongside comprehensive digital-asset regulations to prevent missed economic opportunities. The proposed digital asset aims to improve cross-border…

Japan’s FSA Backs Major Banks’ Joint Yen Stablecoin Rollout

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Japan’s financial regulator, the Financial Services Agency (FSA), endorsed a project by the country’s largest financial institutions to jointly issue yen-backed stablecoins. In a Friday statement, the FSA announced the launch of its “Payment Innovation Project” as a response to progress in “the use of blockchain technology to enhance payments.” The initiative involves Mizuho Bank, Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi Corporation and its financial arm and Progmat, MUFG’s stablecoin issuance platform. The announcement follows recent reports that those companies plan to modernize corporate settlements and reduce transaction…

Elixir Pulls Stablecoin Support Due to Stream’s $93M Loss

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Decentralized finance liquidity provider Elixir has pulled support for its synthetic stablecoin, deUSD, due to knock-on effects from Stream Finance’s $93 million loss earlier this week. Elixir said in an X post on Thursday that it has already successfully processed redemptions of 80% of all deUSD holders, which has triggered the stablecoin to depeg from the US dollar to 1.5 cents, CoinGecko data shows. Stream halted withdrawals on Tuesday after an external fund manager disclosed a $93 million loss in net assets, which included an estimated $285 million debt to…

FSA supports three megabanks in issuing joint stablecoin project

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Key Takeaways Japan’s Financial Services Agency (FSA) has endorsed a stablecoin initiative involving the country’s three biggest banks: Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group. The project will create a common framework for issuing and transferring stablecoins, with an initial focus on tokens backed by the Japanese yen and potentially the US dollar. Share this article Japan’s Financial Services Agency (FSA) today endorsed a joint stablecoin initiative by the country’s three largest banks: Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group.…

Jamie Dimon says JPMorgan might build a stablecoin with other banks

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Key Takeaways JPMorgan is investing in stablecoins to stay ahead, even without full clarity on outcomes. JPMorgan is developing a deposit coin and exploring stablecoins to improve its digital asset capabilities. Share this article Jamie Dimon, CEO of JPMorgan Chase, admitted he doesn’t know how stablecoins will play out, but instead of ignoring them, the bank is actively experimenting and may build one with other banks. “Stablecoin was one where I don’t know how it’s going to play out,” Dimon said at the America Business Forum on Thursday. “What do…

Cathie Wood lowers Bitcoin forecast to $1.2 million by 2030 amid stablecoin rise

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Key Takeaways Cathie Wood scales back her bullish Bitcoin forecast, trimming Ark Invest’s top-end target to $1.2 million by 2030. The revision comes amid the explosive growth of stablecoins. Share this article Cathie Wood, CEO of ARK Invest, has revised her Bitcoin forecast, lowering the 2030 bull case from $1.5 million to $1.2 million. Speaking on CNBC, she said the surge of stablecoins, which now serve as key payment rails in emerging markets, is taking over some of Bitcoin’s intended use cases. Wood continues to view Bitcoin as a strong…

UK’s Top Bank Says Stablecoin Rules Will Roll Out as Quickly as US

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Bank of England Deputy Governor Sarah Breeden expects the government to keep pace with the US in stablecoin regulation, stating that it is “really important” for the allies to be synchronized on rules governing the $310 billion industry. Speaking at the SALT conference in London on Wednesday, Breeden reportedly said the UK will implement a stablecoin regulatory framework “just as quickly as the US” — rebuffing fears that it is falling behind, particularly after the US passed the landmark GENIUS Act in July. Source: Bloomberg Breeden confirmed that UK regulators…

Bank of England to align stablecoin regulations with US

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Key Takeaways The Bank of England and the US will coordinate on stablecoin regulations to ensure synchronized oversight. Deputy governor Sarah Breeden emphasized harmonization between the UK’s and US’s approaches for effective regulation. Share this article The Bank of England will coordinate its stablecoin regulations with the US to ensure synchronized oversight of digital assets. Sarah Breeden, deputy governor at the Bank of England, emphasized the need for harmonized approaches to stablecoin regulation between the two nations. Bank of England officials have stressed the critical need for the UK and…