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Bank of England Eyes US Stablecoin Regulation, Emphasizes Coordination

Wednesday Nov 5 2025 23:40

2 min

Table of Contents

1. Bank of England Deputy Governor Underscores US Stablecoin Regulation Alignment
1.1 Canada Also Considers Stablecoin Regulation
1.2 Institutional Stablecoin Adoption on the Rise

Bank of England Deputy Governor Underscores US Stablecoin Regulation Alignment

Bank of England Deputy Governor Sarah Breeden anticipates the UK government will match the pace of the United States in regulating stablecoins. She emphasized the critical importance of allied nations maintaining synchronized regulatory frameworks for the $310 billion stablecoin market. Speaking at the SALT conference in London, Breeden stated the UK aims to implement its stablecoin regulatory framework “just as quickly as the US,” countering apprehensions about the UK lagging behind, particularly following the US's GENIUS Act passed in July. Breeden confirmed ongoing dialogues between UK regulators and their US counterparts as the Bank of England prepares to release its stablecoin consultation paper on November 10. “I’ve been talking to the Federal Reserve [...] The regulators over there and our finance ministries are working together.” These remarks follow a meeting between UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent in September, where both nations pledged enhanced collaboration on crypto and stablecoin initiatives. The meeting was prompted by UK crypto advocacy groups' appeals for a more receptive government stance toward the digital asset industry, claiming the current approach hinders innovation and policy development. The Bank of England also faced criticism from lobby groups for its late 2023 proposal to limit individual stablecoin holdings to between £10,000 and £20,000 ($13,050 and $26,100), citing potential implementation difficulties and costs.

Canada Also Considers Stablecoin Regulation

The Canadian government recently announced plans to regulate stablecoins, requiring fiat-backed issuers to maintain sufficient reserves and implement robust risk management protocols. While the specific timeline for the legislation remains unspecified, it forms part of a broader initiative to modernize payment systems, aiming for faster, cheaper, and more secure digital transactions for Canada's 41.7 million citizens.

Institutional Stablecoin Adoption on the Rise

Corporate adoption of stablecoins is steadily increasing, with companies like Western Union, SWIFT, MoneyGram, and Zelle integrating or planning to integrate stablecoin solutions. In April, the US Treasury Department projected the $310 billion stablecoin market to expand into a $2 trillion industry by 2028.

Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Written by:

Emma Rose

Bank of England Eyes US Stablecoin Regulation, Emphasizes Coordination

Bank of England Deputy Governor Underscores US Stablecoin Regulation Alignment

Canada Also Considers Stablecoin Regulation

Institutional Stablecoin Adoption on the Rise

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