The Bank of England is considering replacing the holding limit with a supply limit for stablecoins

According to Bloomberg, the Bank of England is considering an alternative in response to the industry's opposition to the proposed limits on stablecoin holdings. Bank of England Deputy Governor Sarah Breeden stated that the central bank is exploring the possibility of setting a temporary "guardrail" on the total issuance of stablecoins as an alternative option to the existing proposal. This statement indicates that the Bank of England is reassessing its regulatory framework for stablecoins.