Bank of England to start consultations on stablecoin regulation on November 10… "Will align with the US"
Summary
- The Bank of England said it will begin consultations on a stablecoin regulatory framework on November 10.
- The BOE said it is pursuing measures to align the digital asset collateral structure as closely as possible with the U.S. bond regulatory framework.
- It said it is considering recognizing part of collateral assets as interest-bearing assets to attract stablecoin issuers.
The Bank of England (BOE) is reportedly scheduled to begin consultations on a stablecoin regulatory framework on November 10.
On the 18th (local time), Bloomberg, citing knowledgeable sources, reported that "the BOE plans to begin consultations on stablecoin regulation on November 10 and is pursuing measures to align the digital asset collateral structure as closely as possible with the U.S. bond regulatory framework."
The BOE is also considering recognizing part of the collateral assets as interest-bearing assets to attract stablecoin issuers. This is interpreted as a measure to encourage demand for UK government bonds and short-term securities in a situation where government bonds have weakened. The BOE aims to finalize and implement the stablecoin regulatory framework by the end of next year.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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