Bank of England pledges to keep pace with US on stablecoin regulations
The UK’s top bank says it will roll out stablecoin rules “just as quickly as the US” amid concerns that it’s lagging behind global allies.
Bank of England Deputy Governor Sarah Breeden expects the government to keep pace with the US in stablecoin regulation, stating that it is “really important” for the allies to be synchronized on rules governing the $310 billion industry.
Speaking at the SALT conference in London on Wednesday, Breeden reportedly said the UK will implement a stablecoin regulatory framework “just as quickly as the US” — rebuffing fears that it is falling behind, particularly after the US passed the landmark GENIUS Act in July.
Breeden confirmed that UK regulators are speaking with US authorities as the Bank of England prepares to publish its stablecoin consultation paper on Nov. 10.