Overview

• Deputy Governor Sarah Breeden said the limits would be lifted only once stablecoin adoption no longer threatens financing for the real economy.
• The Bank of England will open a consultation next month to gather views on proposed cap levels and implementation.
• Indicative ranges previously floated include £10,000–£20,000 per person and higher thresholds for businesses, with likely exemptions for the largest firms.
• Under the proposed framework, the BoE would oversee systemic sterling stablecoins, while the FCA would regulate other tokens under a lighter regime.
• The BoE is working with the Treasury on a resolution regime to ensure service continuity if an issuer fails, and it expects to finalize the overall framework next year.