BOE Considers Alternative to Stablecoin Holding Limits (1)

The Bank of England is considering an alternative to its proposed limits on stablecoin holdings after a backlash from the industry.

Deputy Governor Sarah Breeden said on Tuesday that the central bank is mulling an option that would see temporary “guardrails” put on the total issuance of a stablecoin.

That appears to mark a departure from proposals set out last year that planned to temporarily limit holdings of systemically important stablecoins to £20,000 ($26,800) for individuals and £10 million for businesses, albeit with some exemptions.

“One option, also set out in the consultation, would be temporary guardrails on the total ...