The Bank of England proposes a £20,000 cap on individual stablecoin holdings
According to ChainCatcher, the Bank of England has proposed that 60% of the assets backing stablecoins can be held in short-term UK government bonds, and at least 40% must be deposited at the Bank of England.
The Bank of England has proposed a cap of £20,000 on individual stablecoin holdings, while the limit for corporate stablecoin holdings is set at £10 million.
For stablecoins transitioning from the UK Financial Conduct Authority (FCA) regulatory framework, up to 95% of their reserve assets may be invested in short-term government bonds.
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