UK Lords Push Back on BOE Stablecoin Caps as US Treasury Sanctions Nobitex and SEC Backs Tokenization
Crypto News A UK House of Lords committee has urged the Bank of England to soften its proposed restrictions on consumer stablecoin holdings, arguing the limits risk stifling a nascent market before it can mature. In its newly published report, the cross-party Financial Services Regulation Committee questioned the central banks planned 20,000-pound cap per coin for individuals and 10 million pounds for businesses, alongside a requirement that issuers hold at least 40% of reserves in non-interest-bearing central bank deposits. The committee recommended monitoring market growth before imposing pre-emptive ceilings, while BOE deputy governor Sarah Breeden has already conceded the framework was “overly conservative,” hinting at imminent revisions. The US Treasurys Office of Foreign Assets Control designated four Iranian cryptocurrency exchanges — Nobitex, Wallex, Bitpin, and Ramzinex — for allegedly funneling digital assets to terrorist financing, sanctions evasion, and ransomware operations linked to the Islamic Revolutionary Guard Corps. Treasury officials claim Nobitex alone processed more than half of Irans blockchain inflows in 2025 and helped the Central Bank of Iran route hundreds of millions in stablecoins to defend the rial. Four individuals tied to Nobitex, including chairman Amir Hossein Rad and CEO Seyed Ali Khoee, were also designated as enforcement against Tehrans crypto
