The Bank of England issues a draft framework for “systemic stablecoins” and scales back previously proposed limits on how much UK firms and households could hold. Multiple reports say the BoE removes or abandons the concept of stablecoin holding caps and instead introduces a temporary aggregate issuance guardrail for each systemic stablecoin. The cap is set at £40 billion, which some outlets describe alongside a dollar equivalent based on exchange rates.
Along with the issuance limit, the BoE adjusts reserve requirements and the treatment of backing assets. Reporting also indicates the framework offers changes to how issuers handle yield or other commercial terms, as the BoE prepares the rules ahead of an anticipated launch of the systemic stablecoin regime in 2027.
The outlets agree that the shift reflects a move away from restricting ownership directly and toward limiting the scale of each systemic stablecoin through issuance. The BoE presents these measures as part of a regulatory approach for tokens it categorizes as systemically important, with updated requirements intended to govern reserve quality and overall market exposure.
