The Bank of England proposed regulations for sterling-denominated stablecoins, including temporary holding limits of £20,000 for individuals and £10 million for businesses, to mitigate potential risks to UK financial stability. The move aims to prevent rapid deposit outflows from commercial banks during the transition to wider stablecoin use. Industry response has been largely critical, citing overly cautious measures compared to the US.
- Holding limits are temporary, pending assessment of risk to the UK economy.
- Issuers can hold up to 60% of backing assets in short-term UK government debt.
- Statutory reserves must cover financial risk and insolvency costs, ensuring daily redemption.
## ПРАКТИЧЕСКИЕ ВЫВОДЫ
- Businesses holding systemic stablecoins should prepare for potential £10m limit.
- Consider the impact of limits on fund allocation and potential migration to riskier assets.
- Monitor regulatory updates: the Bank expects final regulations by year-end.
