The Bank of England relaxes stablecoin regulations, removing the personal holding limit and easing reserve asset requirements

According to a Reuters report, the Bank of England released the final policy and draft rules for stablecoins on Monday, easing some of the recommendations proposed in last year's industry consultation. The Bank of England has scrapped the plan for a personal holding limit and instead imposed a cap on the total issuance of each stablecoin, with an initial limit of £40 billion (approximately $52.84 billion). The central bank has also slightly relaxed the reserve asset requirements and plans to finalize the rules by the end of this year.