The Bank of England is working to introduce stablecoin regulations on a similar timeline to the United States, according to Deputy Governor Sarah Breeden.
She emphasized the need for the UK to stay aligned with its international partners as rules around digital payment tokens continue to evolve.
Breeden, speaking at the SALT event in London, stated that the UK is not lagging behind and intends to act swiftly to put a clear framework for stablecoins.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is a Crypto Bridge? (Explained with Animations)
Her remarks addressed concerns that the country might be falling behind, especially after the US passed the GENIUS Act in July.
The Bank of England plans to release a detailed consultation paper on stablecoin regulation on November 10. This document will outline the approach to managing risks and setting expectations for companies involved in issuing or handling these digital assets.
Breeden noted that the UK and US are in regular talks, with regulators and finance departments from both countries actively cooperating. She said:
I’ve been talking to the Federal Reserve <…> The regulators over there and our finance ministries are working together.
This collaboration builds on a recent meeting between the UK’s Chancellor, Rachel Reeves, and US Treasury Secretary Scott Bessent.
Canada is preparing new national rules for stablecoins, with plans outlined in the 2025 federal budget. What does the proposal cover? Read the full story.
