BOE Reconsiders Stablecoin Caps Amid Industry Pressure & US Regulatory Moves

The Bank of England (BOE) is facing pressure from industry stakeholders regarding its proposed limits on corporate stablecoin holdings. According to a Bloomberg report, the BOE might introduce exemptions for certain firms, allowing them to maintain larger reserves of fiat-pegged assets. This move follows an intense backlash from the industry and increasing competition, particularly from the US which has enacted legislation through the GENIUS Act to regulate stablecoins.