⚡️ INSIGHT: Aave founder Stani Kulechov criticizes UK stablecoin regulation.
Warning the BoE’s 30% non-interest-bearing reserve rule could push issuers offshore. https://t.co/c4DjViWBST
⚡️ INSIGHT: Aave founder Stani Kulechov criticizes UK stablecoin regulation.
Warning the BoE’s 30% non-interest-bearing reserve rule could push issuers offshore. https://t.co/c4DjViWBST
🇬🇧 JUST IN: Bank of England softens stablecoin rules.
Issuers must keep at least 30% of reserves at the central bank, with regulated UK stablecoins expected from 2027. https://t.co/VUnpoTpaRv
Aave founder criticizes UK stablecoin regulation: a 30% interest‑free reserve amounts to de facto taxation, potentially driving companies offshore.
Aave founder Stani critiques the Bank of England's new rules: although the £20,000 personal holding limit is removed, issuers are required to place 30% of reserves into a central bank interest‑free account, and with a £40 billion issuance cap, this will severely undermine the economics of stablecoin issuance and may force firms to move to offshore markets.
He believes regulation should remain technology‑neutral, otherwise the UK cannot compete with the US.
A new Aave V4 security audit by @chain_security is now available, covering the V4 Tokenization Spoke.
Review it below. https://t.co/WyO4W1RME8