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The crypto industry is warning the Bank of England against imposing limits on stablecoin holdings, after a Financial Times report said it plans to cap them for individuals and businesses. According to a Sept. 15 story, the Financial Times (FT) said the BoE is considering imposing caps of £10,000 to £20,000 ($13,600 to $27,200) on individuals, while limiting businesses to around £10 million ($13.6 million). Stablecoins are already widely used for payments in the UK, with adoption of these tokens expected to grow.   Executives say the proposed rules could stifle adoption, complicate enforcement, and leave the UK trailing behind the US and EU in digital finance. Bank Of England Says It Wants To Prevent Massive Outflows According to the BoE’s executive director for financial market infrastructure, Sasha Mills, the planned restrictions on systemic stablecoin ownership is part of an effort to prevent any sudden deposit withdrawals. It would also limit t...

Panic spread across the crypto industry today with rumors of a personal safety situation involving an officer of Ledger, the world’s most popular crypto hardware wallet. In France, an active investigation involving Ledger co-founder Éric Larchevêque is reportedly ongoing. On social media, some users suspected a kidnapping or ransom situation. The tweet from Coin Academy’s French-language X account that apparently started the rumor no longer exists but, disappointingly, the publication hasn’t tweeted a correction. Some users posted fake pictures of alleged perpetrators, making it difficult to discern how serious people were taking the situation. A source allegedly close to Larchevêque, Journalist Grégory Raymond, wrote by mid-morning New York time that “Eric is safe, it’s the only thing I can communicate at the moment. I’m in the process of checking the information.” According to Raymond, Larchevêque “is not involved in the kidnapping rumor.” Not entirely c...