The Bank of England (BoE) has signaled openness to softening its regulatory approach to systemic pound-pegged stablecoins after facing backlash from lawmakers and industry leaders over certain proposed policies. BoE To Revise Stablecoin Regulation Proposal On Wednesday, Bank of England Deputy Governor Sarah Breeden affirmed that the financial authority was “genuinely open” to revising its…
TLDR: South Korea FSC excludes USDT and USDC from corporate crypto investment guidelines over legal conflicts. The Foreign Exchange Transactions Act does not recognize stablecoins as a valid external payment method. Listed companies may invest in the top 20 non-stablecoin assets, capped at 5% of their own capital. A pending amendment to the Foreign Exchange…
TLDR: Paxos says regulated stablecoins must meet strict reserve and capital standards to operate in the U.S. market. Stablecoins function as payment rails and settlement infrastructure, not as direct replacements for bank deposits. Global corporations are now using stablecoins to move millions of dollars in minutes instead of days across borders. Banks that issue or…
Hong Kong’s stablecoin hub dreams have reportedly taken a hit after the People’s Bank of China (PBOC) singled out the sector for the first time while reaffirming its long-standing position on the crypto industry. Beijing’s Latest Warning Targets Stablecoins Legal experts and analysts suggested that Beijing authorities have clouded Hong Kong’s ambitions to become a…