bitcoinpolicyuk on Nostr: Stablecoin rules aren't aimed at Bitcoin, but the wording can reach further than ...

Stablecoin rules aren't aimed at Bitcoin, but the wording can reach further than intended. The Banking Act framework behind the Bank of England and Financial Conduct Authority (FCA) joint stablecoin regime covers "digital settlement assets", a legal category that isn't limited to stablecoins.

In our response we asked both regulators to confirm the regime applies to identifiable firms, not to:
- open source protocols
- non custodial wallets
- node operators
- Lightning routing

We also asked how smaller issuers would be given enough time to meet the Bank’s rules.
Read the full article and our submission:

https://bitcoinpolicy.uk/blog-1/f/bpuk-calls-for-a-clear-route-through-stablecoin-regulation

Susie (npub1hwg…03sg)