Bank of England drops wallet caps and sets £40B guardrail for systemic sterling stablecoins
bankofengland.co.uk •
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Promote with Leviathan NewsThe Bank of England published its final policy positions and draft Code of Practice for systemic sterling stablecoins, replacing proposed £20K individual and £10M business holding caps with an initial £40B issuance guardrail per coin. It also loosened backing rules from a 60/40 split to 70% short-term UK government debt and 30% unremunerated BoE deposits, with launch-stage issuers allowed up to 95% in gilts as they scale. The Code is still in consultation, with the BoE aiming to finalize it by the end of 2026.
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