Features News Today TheBitTimes.Com

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...

President Donald Trump is scheduled to sign an executive order on Thursday, August 7, allowing 401(k) retirement plans to include private equity, real estate, and cryptocurrencies, among other similar assets. The order will instruct the U.S. Department of Labor to review and possibly revise the existing guidelines on the inclusion of alternative investments in retirement plans governed by the Employee Retirement Income Security Act of 1974 (ERISA), as reported by Bloomberg . In addition, the department will also have to clarify how exactly fiduciary duties apply when asset allocation funds offer exposure to newly included holdings. What does Trump’s new 401(k) order mean? The move would benefit alternative asset firms the most, giving them access to a new $12 trillion retirement market and helping their investment products reach the mainstream. Of course, the crypto market as a whole is expected to feel the effects of the new order. Bitcoin (BTC), for instance,...