The Bank of England plans to relax the stablecoin holding cap and will announce new regulations by the end of the year.

According to Golden Ten Data, ChainCatcher reported that the Bank of England plans to grant exemptions to its proposed stablecoin holding limits, allowing cryptocurrency exchanges and other specific businesses to hold larger amounts of stablecoins. These restrictions are expected to be announced by the end of this year, and companies will be permitted to use stablecoins as settlement assets within the "Digital Securities Sandbox." Previously, it was reported that several crypto companies have been lobbying the Bank of England to reconsider its stablecoin holding restrictions.