This story was originally published on HackerNoon at: https://hackernoon.com/bank-of-england-signals-softer-approach-to-stablecoins-under-new-proposals.
Bank of England proposes new stablecoin rules allowing 60% reserve investment in government debt while keeping strict holding limits.
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The Bank of England on Monday proposed that issuers of widely used stablecoins be allowed to invest up to 60 percent of their reserve assets in government debt. Under the draft rules, expected to take effect next year, the central bank maintained plans to cap the amount of stablecoins that individuals and businesses can hold.