🇬🇧HUGE: The UK wants to make supporting STABLECOIN innovation part of the Bank of England's official mandate. The British government plans to give the BOE a new secondary objective to support innovation in payments and digital money, while financial stability remains its primary responsibility. The move comes after the BOE faced criticism for being too restrictive on stablecoins, with a UK parliamentary committee warning Britain was “lagging behind” the US and EU. The global stablecoin market is now around $310 BILLION, but less than 0.5% is denominated in British pounds. The BOE has already scrapped proposed individual holding limits and instead set a temporary £40B issuance cap for each systemic stablecoin. The Bank will also be required to report to Parliament every year on how it's advancing payments innovation.(Coin Bureau)