British Stablecoin Regime to Keep Pace With US, Official Says

Bank of England Deputy Governor Sarah Breeden said new stablecoin rules will be up and running “just as quickly as the US,” rebuffing industry concerns that Britain is falling behind on setting up a regime.

Breeden said on Wednesday that the UK was in a different place to the US on imposing limits for stablecoin holdings because its mortgage market relies on lending by commercial banks.

Bank of England Deputy Governor Sarah Breeden

Photographer: Chris Ratcliffe/Bloomberg

The UK central bank will unveil its proposed regime on stablecoin regulations on Monday and is expected to impose temporary limits of £20,000 ($26,087) on individuals and £10 million on businesses. Bloomberg reported ...