The UK’s prime financial institution says it is going to roll out stablecoin guidelines “simply as shortly because the US” amid considerations that it is lagging behind international allies.
Financial institution of England Deputy Governor Sarah Breeden expects the federal government to maintain tempo with the US in stablecoin regulation, stating that it’s “actually necessary” for the allies to be synchronized on guidelines governing the $310 billion business.
Talking on the SALT convention in London on Wednesday, Breeden reportedly mentioned the UK will implement a stablecoin regulatory framework “simply as shortly because the US” — rebuffing fears that it’s falling behind, significantly after the US handed the landmark GENIUS Act in July.
Breeden confirmed that UK regulators are talking with US authorities because the Financial institution of England prepares to publish its stablecoin session paper on Nov. 10.
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