Bank of England eases systemic stablecoin rules, replacing holder caps with £40B issuer limits

The Bank of England said it has softened its final UK regulatory framework for “systemic” stablecoins, including dropping previously proposed limits on individual stablecoin holdings and easing reserve requirements for such tokens ^{[1] [2]}.

Under the revised approach, the BoE replaces holding limits with a temporary issuance cap, reported as a £40 billion limit per systemic stablecoin issuer, as outlined in the final policy and draft rules ^{[3] [4]}.

The updated rules mark a shift from the earlier design of the BoE’s systemic stablecoin regime toward issuer-level issuance constraints rather than individual holder caps ^{[1] [3]}.