UK Central Bank Easing Stablecoin Restrictions: Exemptions for Crypto Exchanges

The Bank of England is revising its stance on stablecoins, granting exemptions to its proposed ownership limits, which will allow certain digital asset firms, including crypto exchanges, greater flexibility in holding the tokens. This move marks a potential shift in the central bank’s approach towards digital currencies as it prepares to permit regulated stablecoins for settlement within its Digital Securities Sandbox. This signifies an evolution from concerns about potential threat to public trust and a recognition of their role in driving innovation.