The Bank of England will introduce exemptions to its planned caps on stablecoin holdings, Bloomberg reported Tuesday.
The waivers are intended for crypto exchanges and other businesses that need to hold large amounts of stablecoins, a move that marks a softening of the BoE’s initial stance.
The central bank’s earlier proposal included a £20,000 holding limit for individuals and a £10 million limit for corporations. This reconsideration follows industry warnings that the UK risked falling behind the US, which recently established its own rules for dollar-backed stablecoins.
