UK Stablecoin Rules Will Be in Place 'as Quickly as the U.S.,' BOE Says: Bloomberg

Why It Matters

The rules will shape the UK’s approach to digital assets, influencing investor access and potentially setting a benchmark for other jurisdictions. By aligning the rollout speed with the U.S., the BOE aims to maintain the UK’s competitiveness in the emerging stable‑coin market.

Summary

A deputy governor of the Bank of England, Sarah Breeden, said the UK will have stable‑coin regulations in place "just as quickly as the U.S.," with the proposal to be unveiled on Nov. 10. The draft rules are expected to cap individual stable‑coin holdings at £20,000 (about $26,000) and business holdings at £10 million. Breeden argued that limits are needed because the UK mortgage market relies on commercial banks, unlike the U.S. system backed by Fannie Mae and Freddie Mac. The announcement follows industry criticism that the caps could restrict crypto usage.