The Bank of England will only remove proposed caps on the quantity of stablecoins individuals and businesses can hold when it is confident they do not pose a threat to financial stability. The central bank has taken a tougher stance than many authorities on embracing stablecoins, a type of cryptoasset pegged to fiat currency that has soared in popularity. The crypto industry has opposed the planned caps, but BoE Deputy Governor Sarah Breeden reiterated on Wednesday they were needed because of the potential impact of significant and rapid outflows of bank deposits into stablecoins. Such outflows, she said in a speech, ... (full story)