The U.K.’s Financial Conduct Authority (FCA) reduced the proposed capital requirements for stablecoin issuers as it set out its formal guidance for cryptocurrency regulations.The financial services regulator cut the amount of financial backing that needs to be set aside to 1% of the total value of the stablecoins they issue. It was previously 2%.The change “makes the prudential framework more proportionate for larger issuers while maintaining the robustness of the overall regime,” the FCA said in a new framework document published Tuesday.The proposed requirement is lower than the 2% equivalent stipulation under the European Union’s Markets in Crypto Assets (MiCA)…

In this segment of Free Media, Senior Editor Robby Soave and Daily Caller Editor in Chief Amber Duke discuss California Gov. Gavin Newsom’s move further left as he tries to appeal to the socialist wing of the Democratic Party. The post Gavin Newsom Is Totally Wrong About Taxes appeared first on Reason.com. Read the full article here

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