UK Accelerates Crypto Ambitions with Forthcoming Stablecoin Regulation

As part of a sweeping modernization of its financial markets, the UK will unveil its proposed stablecoin regulations on November 10.

The Bank of England‘s consultation marks a critical step in the government’s plan to embrace blockchain technology and digital assets while managing associated risks.

According to Deputy Governor Sarah Breeden, the UK is moving “just as quickly as the US” to establish oversight. The proposed framework features a targeted approach, applying the BoE’s strictest rules—including transaction caps—only to stablecoins deemed systemic for payments.

This regulatory push complements other recent initiatives, such as lifting the retail ban on crypto exchange-traded notes and appointing a “digital markets champion,” positioning the UK to compete globally in the digital finance arena.