Catenaa, Monday, March 02, 2026- Coinbase CEO Brian Armstrong warned last week that proposed stablecoin limits by the Bank of England could weaken the UK’s position in digital finance, as the company tracks rising token revenue under new US rules.

Armstrong said draft UK regulations risk making the country less competitive.

The central bank last year proposed capping individual stablecoin holdings at 20,000 pounds and business holdings at 10 million pounds.

The plan would also require 40 percent of reserves to be held in non interest bearing central bank accounts.

A petition backed by Stand With Crypto UK, a group launched with support from Coinbase in 2023, has gathered more than 80,000 signatures ahead of a March 3 deadline.

The campaign urges the government to adopt a pro innovation framework for stablecoins and tokenization.

The debate comes as Coinbase’s stablecoin revenue climbs. The company reported $1.35 billion in stablecoin revenue in 2025, up from $911 million a year earlier. Fourth quarter stablecoin revenue reached $364 million, even as the firm posted a quarterly net loss.

Analysts at Bloomberg Intelligence estimate Coinbase’s stablecoin revenue could expand two to seven times under the US GENIUS Act, which created a federal framework for stablecoin issuers.

In Washington, yield rules remain contested. Armstrong last month withdrew support for the CLARITY Act before a Senate committee vote, citing concerns over restrictions that could affect Coinbase’s revenue sharing agreement tied to USDC reserves.

Coinbase faces parallel regulatory battles in the UK and US as stablecoins move further into mainstream finance.