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Bank of England softens stablecoin rules in final policy draft
The Bank of England on Monday eased proposed stablecoin rules following widespread concern they risked stifling development of a nascent sterling-backed market, though some in the industry said the changes fell short of enabling an internationally competitive sector. The BoE, which is finalising rules for sterling stablecoins that can be widely used for retail payments, scrapped plans to cap the amount of stablecoins individuals can hold, opting instead to limit total issuance per stablecoin, initially set at £40 billion ($52.8 billion). It also slightly relaxed a proposal on backing assets to allow issuers of ... (full story)
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