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UK to lower stablecoin capital buffers, undercutting EU's MiCA requirements
The UK is set to reduce capital buffers for stablecoins, a move that would be less stringent than the requirements under the EU's MiCA (Market in Crypto-Assets) regulatory framework.
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Adjacent reporting
- The GENIUS Act opened the door for stablecoins, but regulators want to narrow it
- New York regulator proposes stablecoin rule to align with federal GENIUS Act, adds reserve limits
- Bank of England backs down on strict stablecoin holding limits, sets $50 billion issuance cap
- Bank of England dilutes stablecoin rules with plan for £40bn issuer limit
- Banks seek to slow down implementation of crypto's GENIUS Act on stablecoin oversight
- Bank of England reconsiders strict stablecoin regime