The post Bank of England Faces Pushback on Digital Pound From Reform Party appeared on BitcoinEthereumNews.com. Fintech 19 September 2025 | 15:03 Reform is sharpening its identity as the UK’s pro-crypto party, taking aim at the Bank of England’s latest plans for digital money. Party figures Zia Yusuf and Nigel Farage say the central bank’s proposals – limits on stablecoin holdings and the creation of a digital pound – would stifle innovation and weaken Britain’s role in the global financial race. Stablecoins as a Missed Opportunity Reform argues that the Bank’s restrictive stance risks sidelining the UK while competitors like the United States benefit from dollar-backed tokens that channel liquidity into Treasuries. “Where is the pound-backed stablecoin with deep liquidity?” Yusuf asked, claiming that regulators have discouraged British innovators instead of building alternatives. The party contends that systemic stablecoins are not destabilizing threats but practical tools – “programmable wrappers around money” that allow transactions to settle instantly across borders. In Reform’s view, a pound-linked token could strengthen demand for gilts and make the UK a leader in fintech. Why the Bank of England Wants Caps The clash follows the Bank of England’s recent proposal to impose limits on stablecoin exposure: £10,000–£20,000 for individuals and up to £10 million for companies. Regulators say these caps are designed to contain financial risks as digital assets become more widespread. At the same time, the Bank is studying a central bank digital currency. Officials argue a state-backed digital pound would modernize payments and protect financial stability. Reform’s Rejection of a Digital Pound Reform fiercely disagrees, calling a CBDC an overreach that would grant the central bank “unprecedented control” over private finances. Instead, the party is preparing its own Cryptoassets and Digital Finance Bill, aiming to create a regulatory framework that encourages private stablecoin issuers while maintaining safeguards for consumers. By positioning itself against a digital pound and in favor of… The post Bank of England Faces Pushback on Digital Pound From Reform Party appeared on BitcoinEthereumNews.com. Fintech 19 September 2025 | 15:03 Reform is sharpening its identity as the UK’s pro-crypto party, taking aim at the Bank of England’s latest plans for digital money. Party figures Zia Yusuf and Nigel Farage say the central bank’s proposals – limits on stablecoin holdings and the creation of a digital pound – would stifle innovation and weaken Britain’s role in the global financial race. Stablecoins as a Missed Opportunity Reform argues that the Bank’s restrictive stance risks sidelining the UK while competitors like the United States benefit from dollar-backed tokens that channel liquidity into Treasuries. “Where is the pound-backed stablecoin with deep liquidity?” Yusuf asked, claiming that regulators have discouraged British innovators instead of building alternatives. The party contends that systemic stablecoins are not destabilizing threats but practical tools – “programmable wrappers around money” that allow transactions to settle instantly across borders. In Reform’s view, a pound-linked token could strengthen demand for gilts and make the UK a leader in fintech. Why the Bank of England Wants Caps The clash follows the Bank of England’s recent proposal to impose limits on stablecoin exposure: £10,000–£20,000 for individuals and up to £10 million for companies. Regulators say these caps are designed to contain financial risks as digital assets become more widespread. At the same time, the Bank is studying a central bank digital currency. Officials argue a state-backed digital pound would modernize payments and protect financial stability. Reform’s Rejection of a Digital Pound Reform fiercely disagrees, calling a CBDC an overreach that would grant the central bank “unprecedented control” over private finances. Instead, the party is preparing its own Cryptoassets and Digital Finance Bill, aiming to create a regulatory framework that encourages private stablecoin issuers while maintaining safeguards for consumers. By positioning itself against a digital pound and in favor of…