THE BLOCK: Bank of England relaxes sterling stablecoin plan, drops individual holding caps in favor of temporary £40B ($52.8B) issuance limit

THE BLOCK reports that the Bank of England has softened its proposed framework for sterling-denominated stablecoins, removing plans to cap how much individuals could hold. In its place, the central bank is setting a temporary issuance ceiling of £40 billion ($52.8 billion) per stablecoin. The revision pares back a restriction the industry had pushed against during last year's consultation.