Regulatory Alerts2026-06-22
Added · Updated
Bank of England policy statement and draft rules on regulating systemic stablecoins
The Bank of England has published its policy positions and a draft Code of Practice for regulating systemic stablecoin issuers, following feedback from its November 2025 consultation. This framework, enabled by the Financial Services and Markets Act 2023, primarily focuses on sterling-denominated systemic stablecoins, which will be jointly regulated by the Bank and the FCA. Key revisions include adjusting backing asset composition to 70% short-term UK government debt and 30% unremunerated Bank of England deposits, replacing holding limits with a temporary £40bn issuance guardrail, and confirming a Central Bank Liquidity Facility.
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