According to Bloomberg, UK Deputy Bank of England Governor Sarah Breeden stated during a House of Commons committee meeting that regulators are open to "other ways" of achieving the goal of protecting the UK economy and are reviewing feedback received from the stablecoin consultation document in November last year. The Bank of England previously proposed setting temporary holding limits for stablecoins deemed systemically important: £20,000 for individuals and £10 million for businesses, to prevent risks from rapid transfers of bank deposits into stablecoins; however, stablecoin issuers and the crypto industry argue that these limits are difficult to enforce and could stifle innovation. The central bank plans to finalize the regulations by the end of the year.