Bank of England to Unveil Stablecoin Regulatory Regime, Keeping Pace With US | Altcoin Stablecoin

Contributing sentiments towards policy:

60% : UK's Dual-Tier Stablecoin Framework Aims to Balance Innovation and Stability The proposed rules will initially target "systemic" stablecoins, those expected to play a significant role in payments, while smaller stablecoins will remain under the Financial Conduct Authority (FCA) with a lighter regulatory framework.
59% : The new official will coordinate private sector efforts on tokenizing wholesale financial instruments and ensure that innovation aligns with the country's regulatory framework.
55% : The Bank of England (BOE) is preparing to release its long-awaited regulatory framework for stablecoins, aiming to match the pace of US developments in digital asset oversight, according to Bloomberg.
51% : Deputy Governor Sarah Breeden dismissed suggestions that the UK is trailing behind the U.S., telling Bloomberg that the new regime would become operational "just as quickly as the U.S." The BOE will publish its formal consultation on stablecoin regulation on November 10, she confirmed to Reuters.
50% : Last month, HM Revenue & Customs (HMRC) also intensified its scrutiny of the crypto sector, sending 65,000 "nudge letters" to investors suspected of underreporting or evading taxes on digital assets, more than double last year's figure.

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