Bank of England Takes Steps to Finalize Stablecoin Regulations in Alignment with U.S. Oversight
Bank of England's Regulatory Framework: The Bank of England is set to introduce a regulatory framework for stablecoins on November 10, aiming to align with U.S. developments and ensure that the UK remains competitive in the digital finance landscape.
Proposed Limits on Stablecoins: The new regulations will impose temporary holding limits of £20,000 for individuals and £10 million for businesses to protect the UK’s bank-based mortgage market from potential capital outflows into digital currencies.
Focus on Systemic Stablecoins: The proposed rules will initially target stablecoins considered "systemic," which are expected to be widely used for payments, while other types will fall under lighter oversight from the Financial Conduct Authority.
Broader Shift Towards Digital Finance: The UK government is under pressure to enhance its position in the global digital asset market, as evidenced by the recent lifting of a ban on crypto exchange-traded notes, indicating a move towards embracing digital finance with regulatory safeguards.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK) As of , Lorenzo Protocol (BANK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 12 technical signals, shows that 5 indicators are flashing buy, while 7 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00196 | 0.0157 | 0.0261 | 0.0398 | 0.0502 | 0.0639 | 0.0743 |
| Fibonacci | 0.0157 | 0.0249 | 0.0306 | 0.0398 | 0.049 | 0.0547 | 0.0639 |
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