It seems the Bank of England is unwilling to budge on the £20k stablecoin holding limit for individual users, which significantly restricts many use cases. Apparently, BoE staff understand this, but it may be that the restriction is coming from the very top, perhaps Andrew Bailey? Whether this is true or not, its a true limit to innovation and for the UK to lead on stablecoins denominated in its own currency. I sincerely hope this does not make it into the final draft, as it would severely undermine the potential stablecoins can provide and reduces the competitiveness of the UK regime globally. At worst, this could mean that the US or the EU becomes a more favourable region for growing sterling stablecoins, pushing them further outside the reach of the UK oversight.(Stani.eth)