The BoE scrapped individual holding caps for a £40 billion per-coin issuance limit and will let issuers hold more reserves in government debt.

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,…