UK Crypto Industry Wins Concession as BoE Pledges to Lift Stablecoin Caps

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Responding to fierce industry criticism, the Bank of England has signaled it will not maintain strict limits on stablecoins permanently. Deputy Governor Sarah Breeden told attendees at DC Fintech Week that the proposed caps on transaction sizes and holdings are a “temporary stopgap.”

The clarification comes after industry groups lashed out at the plan in September, warning that the rumoured £10,000-£20,000 limits would stifle growth and signal that the UK is not a crypto-friendly jurisdiction.

Breeden sought to allay these fears, emphasizing the bank’s long-term vision to integrate stablecoins into the financial system and its commitment to remove the restrictions once the market has safely adjusted.