Bank of England Relaxes Stablecoin Rules

BlockBeats News, June 22nd - According to market sources, the Bank of England has abandoned the previously proposed cap on individual and corporate holdings, opting instead for a cap on the initial total amount for each stablecoin not exceeding £40 billion. Additionally, following industry feedback, the central bank has slightly relaxed the requirements for eligible reserve assets. This move removes a key barrier to stablecoin adoption, indicating that the Bank of England is taking a more pragmatic regulatory approach to the Pound Sterling stablecoin. However, the final rules are still set to be finalized by the end of the year, with systemic protection measures still in place. The market has not shown any significant price or volume reaction for now.