Bank of England Eases Stablecoin Rules With £400B Issuance Cap

The Bank of England released a final policy statement and draft rules for systemic stablecoins with a temporary £400 billion issuance cap for each stablecoin. The central bank removed previously proposed caps on individual holdings. Issuers may hold up to 70% of reserve assets in short-term UK government bonds. Public consultation remains open until September 22.
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