Reform Party Challenges Bank of England's Digital Currency Plan

The Reform Party, led by Zia Yusuf and Nigel Farage, is challenging the Bank of England’s digital asset policy, criticizing the stablecoin holding cap and the advancement of the digital pound that killed innovation. They believe that pound-backed stablecoins can strengthen fintech leadership and boost Treasury demand, while the Bank of England argues that its personal holdings of £10,000 to £20,000 and corporate holdings caps of £10 million are necessary for risk management. The debate highlights different views on the future of UK finance.