The Bank of England has scrapped its proposed holding caps for UK stablecoins, replacing them with a temporary £40 billion ($52.9 billion) limit on how much of any single systemic coin can be issued.
The change arrived Monday with a draft Code of Practice
It eases a rule that worried issuers. Yet it leaves Britain capping issuance of its own currency stablecoin, something neither the US nor the EU does. From Per-User Caps to a Single Ceiling In November 2025, the central bank proposed limiting individuals to £20,000 and businesses to £10 million per coin.
Issuers called the plan costly and hard to enforce. The reversal followed pressure at home. In June, the House of Lords Financial Services Regulation Committee urged the Bank to reconsider the limits.