[Coinbase CEO Criticizes Bank of England's Stablecoin Holding Cap Proposal] On February 25, Coinbase CEO Brian Armstrong stated that the Bank of England's proposed stablecoin holding cap could weaken the UK's position as a global financial hub. He pointed out that the direction of the UK's stablecoin regulations might hinder global competitiveness in the digital economy. The Bank of England previously proposed a personal stablecoin holding cap of $26,350 (£20,000) and a corporate holding cap of $12.7 million (£10 million), along with a requirement for 40% of reserves to be held in non-interest-bearing central bank accounts. UK lawmakers have also warned that the plan could restrict innovation and adoption, potentially driving activity overseas.