Bank of England Releases Stablecoin Regulations Draft With 40 Billion Pound Issuance Cap

According to Foresight News, the Bank of England released draft regulations and conduct guidelines for systemic stablecoin issuers on June 23, aiming to support safe innovation in digital currency. The draft sets an initial issuance cap of 40 billion pounds and prohibits interest payments to holders. Stablecoin reserves must comprise 70 percent short-term UK government bonds and 30 percent Bank of England deposits, with mandatory 24-hour redemption periods.
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