Bank of England Drops Individual Stablecoin Limits, Adopts £40 Billion Issuance Cap After Industry Pushback
By
Debashree Patra
Summary
The Bank of England has revised its proposed stablecoin regulations, abandoning individual and business holding limits in favor of a temporary £40 billion cap on total issuance per systemic sterling-backed stablecoin. This shift came after industry feedback pushed back against earlier proposals that would have limited individuals to £20,000 and businesses to £10 million in stablecoin holdings. The change represents a significant softening of the central bank's regulatory stance on digital currencies.
Source
bskyBank of England Drops Individual Stablecoin Limits, Adopts £40 Billion Issuance Cap After Industry Pushbackcoinpedia.orgKey quotes
· 3 pulledThe Bank of England (BoE) has softened its proposed stablecoin rules, removing planned limits on how much stablecoin individuals and businesses can hold.
Instead, the central bank will introduce a temporary £40 billion cap on the total issuance of each systemic sterling-backed stablecoin.
After receiving feedback from industry participants, the BoE decided that an overall issuance cap would be a more appropriate approach.
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