Bank of England Cancels Plans for Stablecoin Ownership Limits

England’s central bank is easing its stablecoin restrictions following pushback from the cryptocurrency industry. The Bank of England (BOE) announced Monday (June 22) that it would not introduce the temporary holding limits on stablecoins it had been considering. Instead, the bank will apply a “temporary issuance guardrail” to “each systemic stablecoin,” initially set at 40 billion pounds.