The United Kingdom is accelerating its stablecoin regulation to keep pace with the United States. The Bank of England’s (BOE) Deputy Governor, Sarah Breeden, affirmed that the new British rules will be operational “just as quickly as the US,” dispelling industry concerns about a potential delay. Speaking at the SALT conference in London, Breeden emphasized that coordination with Washington is already underway, especially following the passage of the GENIUS Act in the U.S., and she described policy alignment as “crucial” for both financial systems.
Regulatory Alignment and Industry Concerns
Breeden’s comments follow months of collaboration between regulators on both sides of the Atlantic, including a September meeting between Chancellor Rachel Reeves and U.S. Treasury Secretary Scott Bessent. The goal is to create a synchronized framework for cross-border payment innovation. The local industry had previously criticized the BOE for proposals that would cap stablecoin holdings at between £10,000 and £20,000, warning that such limits would stifle adoption.
Upcoming Consultations and Global Trends
The next key step will come on November 10, when the Bank of England publishes its long-awaited consultation paper on stablecoins, which will define how pound-linked tokens will be integrated. Meanwhile, the regulatory race is intensifying globally, with Canada also announcing its own regime. This regulatory urgency coincides with institutional adoption, as giants like SWIFT and Western Union are actively testing tokenized settlement solutions to speed up international transactions.
The information presented in this article is for informational purposes only and should not be interpreted as investment advice. The cryptocurrency market is highly volatile and may involve significant risks. We recommend conducting your own analysis.