UK FCA and Central Bank Advance Crypto Regulation Rules, Lifting Limits on Fiat-Backed Stablecoin Holdings

The UK Financial Conduct Authority has finalized crypto regulations, providing guidance on capital requirements, access, and disclosure for crypto companies. The Bank of England has lifted restrictions on fiat-backed stablecoin holdings, reducing the reserve requirement that issuers must hold at the central bank from 40% to 30%. Previously proposed stablecoin regulations limited individual holdings of systemic pound-backed stablecoins to no more than £20,000, and corporate holdings to no more than £10,000,000.

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