While the EU’s regime under its Markets in Crypto Assets (MiCA) regulation seeks to limit potentially wide-use stablecoins proposed by the likes of Meta, a person familiar with the matter said these companies can issue payments-focused and fiat-backed stablecoins in the U.K. under the proposed plans if approved to do so. However, no existing stablecoin qualifies as “systemic” under the BOE’s proposals. Source: https://www.coindesk.com/policy/2023/11/06/bank-of-england-publishes-plans-to-regulate-wide-use-stablecoins/?utm_medium=referral&utm_source=rss&utm_campaign=headlines