According to Foresight News, the cryptocurrency sector is urging the Bank of England to abandon its proposal to limit individual holdings of stablecoins. This plan would impose stricter regulations on the stablecoin market in the UK compared to the United States or the European Union. Previously, Bank of England officials indicated their intention to proceed with a proposal to cap holdings of all systemic stablecoins. The proposed limits are set at £10,000 to £20,000 for individuals and £10 million for businesses. This plan reflects the Bank of England's concerns that stablecoins could undermine financial stability by drawing deposits away from the banking system. It also highlights the UK's more cautious approach to cryptocurrency regulation compared to other countries and regions.