Bank of England Caps Systemic Pound Stablecoins at $53B

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The Bank of England removed proposed user holding limits and set a temporary £40 billion issuance cap for each systemic sterling stablecoin product. The reserve mix now allows up to 70% of backing assets in interest-bearing short-term UK government debt. The draft rules consultation closes on Sept. 22, 2026, and regulated stablecoins are expected to operate in the UK from 2027.
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