Find XO: Bank of England Lifts Holding Limits and Imposes Issuance Ceilings: New Rules for Pound Stablecoins (coindesk.com)

- On June 22, the Bank of England released a draft of the pound stablecoin rules. - The individual holding cap of £20,000 and corporate cap of £10 million were removed, but a £40 billion issuance ceiling per product was set, with up to 70% of reserves allowed to be invested in government bonds to earn interest. - Rather than deregulation, the control target shifted from users to issuers. - Payment startups need to first decide which currency and jurisdiction to choose before focusing on technology.