LONDON — The Bank of England unveiled its final stablecoin policy and a set of draft regulations on Monday, walking back some of the tougher measures it had floated during an industry consultation last year.
Among the key changes, the central bank dropped its earlier plan to place limits on how much of a stablecoin any single individual could hold. Instead, authorities will cap the total amount of each stablecoin that can be issued, with an initial ceiling set at £40 billion — equivalent to roughly $52.84 billion.
The Bank of England also eased its requirements related to the assets that must back stablecoins, offering the industry slightly more flexibility than originally proposed. Officials indicated they intend to wrap up the final version of the rules before the close of this year.
