Analysis
The Bank of England is open to fixes on its proposed stablecoin framework, but one official said it needs better feedback from crypto industry participants.
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Bank of England News
The Bank of England is one of the main financial authorities and is the central bank of the United Kingdom. The Bank of England is the second-oldest bank in operation and the most influential of them, having served as a role model for other countries’ central banks. There are a lot of services provided by the Bank of England. For example, the Bank of England provides a quarterly inflation report that sums up all the results of monetary policies. The Bank of England is also in charge of economic growth forecasts and some other financial predictions and research. The Bank of England is the custodian of the gold reserves of the United Kingdom and the official gold reserves of around 30 other countries. The Bank of England is the banknote issuer of UK and has a contract with De La Rue plc. – an English banknote manufacturing company that prints all the modern banknotes of the UK.
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Industry groups have criticized the UK’s proposed stablecoin holding limits, arguing they would signal that the UK is hostile to crypto and stifle innovation.
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Lawmakers asked if stablecoins could drain bank deposits and threaten financial stability, while Coinbase and Innovate Finance warned that strict regulation risks driving innovation offshore.
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The UK Financial Conduct Authority selected Monee, ReStabilise, Revolut and VVTX to test stablecoin issuance and payments in its regulatory sandbox beginning in Q1 2026.
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The six-month central bank pilot brings together market infrastructure providers, banks and Web3 companies to assess how core UK markets could move onchain.
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The parliamentary inquiry comes as regulators warn that stablecoins could drain bank deposits and reshape payments.
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Some crypto industry observers believe that the Bank of England’s new proposed regulations for stablecoins are unnecessarily restrictive.
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Breeden said loosening UK stablecoin rules could fuel risky bank outflows, urging stronger safeguards as the Bank of England finalizes its crypto framework.
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ClearToken won FCA approval for a regulated crypto settlement system, signaling the UK’s push to bring digital assets under its financial framework.
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The Bank of England invites feedback on its proposed stablecoin framework, with the aim of finalizing the rules in the second half of 2026.
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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.
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The Bank of England is worried that a rise in financiers’ lending to data center lending may cause an AI bubble reminiscent of the dot-com crash in the early 2000s.
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The Bank of England is launching a consultation on new stablecoin rules that mirror the US approach to fiat-pegged crypto assets.
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Industry groups criticized the proposed stablecoin limits, arguing that they would stifle innovation and signal to the industry that the UK isn’t crypto-friendly.
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The Bank of England may relax proposed caps on corporate stablecoin holdings after industry backlash, as the UK races to stay competitive in the $314 billion market.
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