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🚨 UK’s new GBP stablecoin rules??! Stani Kulechov not having it 🇬🇧💸!
wait, UK trying to cap stablecoins?? 🤡 is this gonna be the new regulatory fud or are we mooning regardless 🚀
bruh…UK really tryna kill the vibe for GBP stablecoins 😵💫! Why they cappin’ at £20
problem: UK’s proposed regulations may hinder the attractiveness of GBP stablecoins.
insight: By capping stablecoins at £20,000 and
Key takeaways:
– UK’s new proposal is unfavorable for stablecoins 🇬🇧
– Stani Kulechov criticizes capping stablecoins at £20,000 and limiting yield-bearing reserves to 60% ⛔
GBP vs. USD-backed stablecoins:
– US doesn’t restrict reserve assets investment, unlike the UK 🇺🇸
– Tether made $10 billion profit this year due to the lucrative model 💰
Macroeconomic impact:
– USD dominance limits growth of GBP-backed stablecoins 🌍
– Offshore demand for USD surpasses GBP demand 🏦
Aave founder warns UK rules could make GBP stablecoins ‘unattractive’
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