The Bank of England has released a policy statement and draft code of conduct for systemic stablecoin issuers, setting proposed limits and reserve requirements for stablecoins issued in the UK. According to Foresight News, the draft aims to support safe innovation and enable UK-issued stablecoins to develop into trusted digital money.
The proposal sets an issuance cap of £40 billion and would prohibit issuers from paying interest to holders. It also requires reserves to be held as 70% short-term UK government bonds and 30% deposits at the Bank of England.
In addition, the draft would mandate redemption within 24 hours.
Bank of England Proposes Rules for Systemic Stablecoin Issuers, Including £40 Billion Cap
2026-06-23 13:14:55
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