TLDR
- Brian Armstrong from Coinbase voiced opposition to UK regulatory proposals targeting stablecoin holding limits for consumers and enterprises.
- The proposed regulations would establish caps near £20,000 for personal accounts and £10 million for corporate entities.
- The Coinbase leader warned that such restrictions might diminish Britain’s standing among leading global financial centers.
- Armstrong called on British citizens to back a campaign initiated by Stand With Crypto UK.
- The campaign has collected over 80,000 signatures and requires 100,000 to trigger parliamentary review.
Brian Armstrong, who leads Coinbase, has publicly questioned stablecoin restrictions under consideration in the United Kingdom. He expressed concern that preliminary regulations from the Bank of England might limit expansion and competitive dynamics. Armstrong called on decision-makers to amend the proposed framework ahead of final implementation.
Bank of England Framework Receives Industry Pushback
Britain’s central bank continues working on regulations that would establish maximum stablecoin holdings for various user categories. Industry observers note the draft includes thresholds near £20,000 for individual users and £10 million for commercial entities.
Armstrong shared his perspective through social media platform X this Tuesday. He stated,
“The UK has a long history of being a financial hub,” while advocating for policy adjustments.
https://x.com/brian_armstrong/status/2026418502022664637?s=20
The executive emphasized that adopting blockchain technology would help London maintain its prominence in global finance. He encouraged UK residents to add their names to a campaign led by Stand With Crypto UK.
Signature Campaign and International Regulatory Landscape
The ongoing campaign has accumulated more than 80,000 signatures according to UK parliamentary procedures. Parliamentary guidelines specify that petitions reaching 100,000 signatures qualify for potential legislative debate.
Armstrong’s public statement generated significant discussion online regarding appropriate regulatory approaches. Several commenters suggested the United States should finalize its own digital asset legislation before evaluating other jurisdictions.
Additional voices emphasized that regulators face challenges balancing systemic risk management with enabling stablecoin scaling. These participants advocated for measured frameworks that facilitate expansion while maintaining proper supervision.
The ongoing discussion highlights increasing competition among leading economies to establish stablecoin governance standards. Legislators in America and the European Union are developing distinct regulatory approaches.
The worldwide stablecoin sector currently represents over $180 billion in aggregate value. Regulators worldwide are working to establish requirements covering reserve management, asset custody, and user safeguards.
Britain’s central bank has yet to publish definitive regulations. Agency representatives continue stakeholder consultations while developing the stablecoin governance structure.
Armstrong emphasized that transparent regulations can encourage expansion when authorities design proportional requirements. He contended that holding caps would create obstacles for organizations managing substantial transaction volumes.
Stand With Crypto UK initiated the signature drive to shape regulatory outcomes. Campaign leaders expressed their goal of bringing the proposals before parliamentary debate.
Parliamentary requirements mandate 100,000 authenticated signatures to activate formal legislative consideration. The petition continues accepting signatures as organizers work toward the required threshold.
The Coinbase leader’s public position increases scrutiny on UK regulators as they complete their assessment. The central bank maintains ongoing dialogue with industry representatives and government agencies.
British authorities have stated their objectives include safeguarding financial system stability and protecting consumers. Officials have not issued direct responses to Armstrong’s public statements.
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