The Bank of England has dropped the piece of its stablecoin plan that the industry hated most, the proposed £20,000 limit on how much sterling stablecoin any one person could hold, along with the £10 million ceiling for businesses. In their place, the central bank's June 22 policy statement set a single £40 billion cap on how much of each systemic sterling stablecoin can exist in the UK, and loosened the reserve rules so issuers can finally earn a decent yield on the money backing their coins.