Bank of England Publishes Policy Statement and Draft Rules for Systemic Stablecoins

The Bank of England published its policy statement and draft Code of Practice for systemic stablecoin issuers on Monday, replacing per-person holding caps with a £40 billion issuer-level guardrail and lifting the gilt share of reserves to 70%. Industry feedback… The Bank of England published its policy statement and draft Code of Practice for systemic stablecoin issuers on Monday, replacing per-person holding caps with a £40 billion issuer-level guardrail and lifting the gilt share of reserves to 70%. Industry feedback is open until 22 September.