The Bank of England sets a "temporary" limit on stablecoins — No end in sight

The Deputy Governor of the Bank of England, Sarah Breeden, stated that the central bank will implement a temporary limit on stablecoins to protect the ability to provide credit. Individuals will be limited to £10,000–£20,000, while businesses will have a maximum of £10 million when using systemically important stablecoins.

There is no specific deadline for lifting this limit. Breeden also stated that the Bank of England will open accounts for systemic stablecoin issuers, allowing them to hold reserves and invest a portion in short-term government bonds, turning the bank into the “bank of issuers.”

UK cryptocurrency associations criticize this policy for being costly, difficult to enforce, and potentially undermining the UK's competitive capacity, although regulators argue that this measure is necessary to protect credit stability.