Wirex CEO Chet Shah: U.K. Steps Aim to Strengthen Its Role as a Virtual Asset Hub

Wirex CEO Chet Shah said the U.K. is taking steps to position itself as a global virtual asset hub, citing recent changes by the Bank of England and the Financial Conduct Authority (FCA). According to NS3.AI, Shah pointed to the Bank of England lowering issuer reserve requirements from 40% to 30% and removing earlier stablecoin holding limits for both individuals and corporations. Shah also said the FCA has put in place a clearer regulatory framework for crypto companies. He added that these measures are expected to reduce entry barriers for institutional and retail investors.