The UK cryptocurrency sector is urging the Bank of England to reconsider its proposal to cap individual stablecoin holdings, arguing it could impose stricter regulations than those in the US or EU. The central bank's plan, which suggests a limit of £10,000 to £20,000 for individual holdings and £10 million for corporate holdings of systemic stablecoins, aims to prevent potential risks to the banking system by curbing bank deposit outflows. However, crypto and payment groups warn that such measures could disadvantage the UK in the global market and prove costly to enforce.