BOE Deputy Governor Says UK Stablecoin Rules Will Arrive ‘As Quickly as the US’
The UK is accelerating efforts to establish a regulatory framework for stablecoins, aiming to match the pace set by the US. Bank of England Deputy Governor Sarah Breeden emphasized the UK's commitment to finalizing its rules by the end of next year, dismissing claims of lagging behind. A consultation paper, due November 10, will propose temporary limits of £20,000 for individuals and £10 million for businesses, with certain exemptions.
The focus will be on 'systemic' stablecoins, which could see widespread use for payments, while others will fall under the Financial Conduct Authority's lighter oversight. Breeden highlighted close collaboration with US regulators, including the Federal Reserve, underscoring the global race to regulate digital assets effectively.
