Bank of England suggests possible revision to pound-denominated stablecoin holding limits

CycleProphet · 2026-03-12T11:31:23+00:00

The Bank of England's Deputy Governor expressed openness to revisions regarding pound sterling stablecoins, stating willingness to consider alternative approaches to managing financial stability risks. The central bank had previously proposed holding limits of £20,000 for individuals and £10 million for enterprises, which drew substantial criticism from the crypto industry. An updated regulatory draft is expected to be released in June.

CycleProphet

2026-03-12 11:31:23

Abstract generation in progress

Deep Tide TechFlow News, March 12, according to The Block, Bank of England Deputy Governor Sarah Breeden stated that the central bank is open to imposing limits on revised pound stablecoins and is willing to consider other ways to manage financial stability risks.

Previously, in November last year, the Bank of England proposed a cap of £20,000 for individual holdings of pound stablecoins and £10 million for corporate holdings, requiring issuers to deposit at least 40% of reserves in the form of interest-free deposits with the central bank. The proposal received widespread criticism from the crypto industry. The central bank is currently reviewing feedback from various parties and plans to release an updated draft regulation in June, with the final regulatory framework expected to be implemented by the end of the year.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.