The Bank of England has diluted its incoming stablecoin rules after warnings from the crypto industry that UK was falling behind rivals.

After industry pushback, the Bank of England has dropped its proposed individual holding caps for stablecoins in favour of per-issuer issuance limits.

LONDON, June 22 : The Bank of England on Monday eased proposed stablecoin rules following widespread concern they risked stifling development of a nascent sterling-backed market,…