Bank of England drops stablecoin holding caps in final UK rules

Altura processed over $8.5M in USDT redemptions within 24 hours before closing the vault. The protocol says market fears and withdrawal pressure drove the orderly wind-down decision. User capital will be returned as portfolio positions are redeemed and settlements are completed. Altura has announced the closure of its stablecoin yield vault after processing more than […] The post Altura Shuts Down Vault as Redemption Requests Surge Past $8.5M appeared first on Live Bitcoin News.

Toss Bank will test Solana-based stablecoin transfers for faster remittances. The pilot explores lower-cost settlement solutions for cross-border payments. South Korea’s evolving crypto rules could support wider blockchain adoption.  South Korea’s Toss Bank has partnered with the Solana Foundation to test blockchain-based remittance and settlement infrastructure. The initiative will focus on evaluating whether stablecoins and […] The post Solana Lands Major Bank Deal as Toss Tests Global Payments Network appeared first on Live Bitcoin News.

South Korea’s Toss Bank and Solana Foundation will test stablecoin-based remittance infrastructure through a phased proof-of-concept.

The American Bankers Association sent 8,000 letters to fight one CLARITY Act provision. The reason: stablecoin yield threatens the bank deposit itself.

Systemic stablecoin issuers will now have clearer rules for scaling within the UK's digital money framework.

Bank of England softens sterling stablecoin rules, dropping individual holding limits for a £40B issuer cap and looser reserve treatment.

The Bank of England published draft rules for systemic stablecoins, easing reserve requirements and replacing holding limits with a temporary 40 billion pound issuance cap.

The BoE's new framework could boost sterling stablecoin adoption, enhancing UK financial innovation while ensuring systemic stability. The post Bank of England drops holding limits on sterling stablecoins, sets £40B cap appeared first on Crypto Briefing.