The Bank of England (BoE), the UK’s central bank, has suggested temporarily limiting individual stablecoin holdings to £20,000 as part of its regulatory framework for digital assets, according to Bloomberg.

The BoE has described the proposed stablecoin holding limits as temporary measures to maintain stability during the shift to new digital finance rules. UK regulators plan to align stablecoin regulations with the US timeline, focusing on systemic stablecoins used for payments.

Crypto industry members have criticized the Bank of England’s stablecoin limits as sending a negative signal to businesses and potentially hindering competitiveness.