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Bank of England signals softer stablecoin stance while calling for more detailed industry input
The Bank of England has indicated it is prepared to adjust elements of its proposed stablecoin framework, including controversial holding limits for individuals and businesses, following a consultation launched in November last year. Deputy Governor Sarah Breeden told UK lawmakers that while the central bank is open to alternative ways of managing deposit migration risks, it has so far received limited constructive proposals from crypto industry participants. Industry figures argue they have invested significant effort in responding to consultations and warn that rules on caps, capital and reserves must remain proportionate if the UK is to become a competitive stablecoin hub.