UK Loosens Stablecoin Rules, But £40 Billion Cap Raises Competitiveness Concerns

The Bank of England has dropped the piece of its stablecoin plan that the industry hated most, the proposed £20,000 limit on how much sterling stablecoin any one person could hold, along with the £10 million ceiling for businesses. [...] The UK has stopped debating whether sterling stablecoins should exist, and what it's testing now is how large one can get before it starts looking enough like money to make the central bank nervous all over again.