PANews, June 22 – Aave founder Stani posted on X platform stating that although the Bank of England has removed the £20,000 cap on individual stablecoin holdings, it still requires issuers to deposit 30% of reserves into a central bank non-interest-bearing account. Stani pointed out that this severely undermines the economics of stablecoin issuance, effectively taxing issuers and potentially forcing companies to move to offshore markets. Additionally, the UK’s cap on stablecoin issuance at £400 billion will also stifle growth. He believes that on-chain bookkeeping is not fundamentally different from the databases of existing payment institutions, and regulation should remain technology-neutral; otherwise, the UK may struggle to compete with the United States.