Bank of England Removes Personal Stablecoin Holding Caps, Sets £40 Billion Issuance Limit on June 22

According to the Bank of England on June 22, the central bank revised its sterling-backed stablecoin framework, removing previously proposed individual holding limits while introducing a temporary £40 billion ($50 billion) issuance ceiling per systemic stablecoin. The updated rules also relaxed reserve requirements, lowering the proportion of backing assets that must be held in central bank deposits from 40% to 30%, with up to 70% now eligible for short-term UK government debt. The shift abandons strict per-user caps in favor of a macroprudential approach, addressing industry concerns that earlier restrictions would undermine the UK's competitiveness as a digital asset hub. Regulated UK stablecoins are expected from 2027.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments