The Bank of England (BOE) has put forward proposals to regulate stablecoins in the UK, including a ban on unhosted wallets.
However, the crypto industry is pushing back against this proposal, citing concerns over its feasibility and impact on the sector's growth.
According to Benoit Marzouk, CEO of stablecoin issuer tGBP, the ban would be a 'serious misstep' for the UK, potentially causing long-term damage to the industry.