Stablecoins
Neutral
Bank of England supports stablecoins as Bank of Korea rules out operating them
Image: Crypto.newsThe Bank of England will act as a banking provider for sterling stablecoin issuers, per a June 22, 2026 policy statement softened after industry feedback. The central bank set a temporary £40 billion per-coin issuance cap and raised the allowed share of short-term UK government debt in stablecoin reserves to 70%. Separately, Bank of Korea Governor Hyun Song Shin told lawmakers on October 12 that private companies, not the central bank, should operate stablecoins.
Key points
- Bank of England will act as a banking provider for sterling stablecoin issuers
- Bank of Korea Governor Hyun Song Shin said private companies should operate stablecoins
Why it matters
The Bank of England's framework creates a formal path for regulated sterling stablecoin launches from 2027. The Bank of Korea's stance clarifies that private firms, not the central bank, will run South Korean stablecoin operations.
What's unclear
The Bank of England has not disclosed how it will adjust the temporary £40 billion per-coin issuance cap after the initial period ends
The Bank of Korea has not shared a timeline for the launch of private won-backed stablecoins under its preferred bank-led consortium model
Sources · 2 publishers
Crypto.news
Tier 2
Bank of Korea won’t issue stablecoins: Here’s why
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by Crypto.news
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
