Bitcoin Will Not Go Away While Fiat Currency Systems Are Stressed – Conference

Tom Burroughes

19 November 2025

As European and other governments struggle to cut public debt and handle issues such as ageing populations, people should consider bitcoin as one way to shield from the fallout, a prominent advocate of cryptocurrencies has said.

Speaking at the SALT London 2025 conference earlier in November, Authur Hayes, chief investment officer of , told the SALT attendees that the central bank was bringing out a consultation paper outlining how to regulate sterling-denominated systemic stablecoins.

As explained in the BoE's announcement on 10 November, “Such stablecoins are a new type of digital money designed to maintain a stable value and could be used for retail payments and wholesale settlement in the future.” Stablecoins are a type of cryptocurrency designed to maintain a stable value relative to a specified asset, such as a fiat currency like the dollar, pound or euro.

“We want a multi-moneyverse,” Breeden told the conference.

She said that the BoE suggests that among retail consumers, there should, for a period, be limits on the use of stablecoins. “For stablecoins, we will be your banker…you can hold your balances with us.”

In its consultation paper, the BoE said it proposed temporary holding limits of £20,000 per coin for individuals and £10 million for businesses (with an exemptions regime to allow the largest businesses to hold more if required). These limits would be removed once the transition no longer poses risks to the provision of finance to the real economy, it said.

The US perspective
Caroline Pham, who is acting chair of the US Commodity Futures Trading Commission, referred to the US “crypto sprint” – a joint venture between the CFTC and the SEC to fast-track implementation of recommendations from the President's Working Group on Digital Assets. That “sprint” was launched in August.

By the end of this year, Pham said, at least one federal US exchange will be hosting crypto futures trading.