Svmuu News: On Monday, the Bank of England released its final policy statement and draft rules on systemic stablecoins, relaxing several previously proposed regulations. The bank scrapped its original plan to set a cap on individual holdings and instead established temporary issuance limits for each stablecoin, with an initial limit set at 40 billion pounds (approximately $52.8 million).
In addition, the Bank of England has allowed issuers to hold up to 70% of their reserve assets in short-term UK government bonds—higher than the previously proposed 60%—with the remainder required to be held in non-interest-bearing deposits at the central bank. The public consultation will run until September 22, and the rules are expected to be finalized by the end of 2026, with regulated stablecoins scheduled to begin operations in the UK in 2027. (Decrypt)