Bank of England's Breeden says diluting stablecoin rules further could damage financial system [Yahoo! Finance]
First Citizens BancShares, Inc. - Class A (FCNCA)
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Source: Yahoo! Finance
diluting rules for stablecoins risked endangering financial stability and causing ?a credit crunch, and said that the UK needed a different approach to the United States. The Bank of ?England on Monday set out a raft of new rules for systemic stablecoins - digital tokens designed to keep a constant value - ?used for payments. It marked a softening of its earlier approach, but the crypto industry said did not go far enough and could inhibit the growth of stablecoins in Britain. Those rules include limiting stablecoin holdings to 20,000 pounds ($26,840) per person - which no other major jurisdiction does - and requiring stablecoin issuers to hold 40% of ?the assets backing the coins with the BoE,? where they would be unrenumerated. NEW RULES GROUNDED IN PAST STRESS EVENTS In an interview with Reuters, Breeden said the 40% figure was "grounded" in past stress events when ?depositors and coinholders ran for the exit, such as the 2023 collapse of Silicon Valley Bank and when the US
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FCNCA
Earnings
- 10/23/25 - Beat
FCNCA
Sec Filings
- 12/5/25 - Form D
- 12/1/25 - Form 4
- 11/18/25 - Form 8-K
- FCNCA's page on the SEC website