The UK plans to introduce stablecoin regulation in sync with the United States

According to Bloomberg, Bank of England Deputy Governor Sarah Breeden stated that the UK's stablecoin regulations will be implemented "as quickly as in the United States," denying that the UK is lagging in regulatory progress.

She mentioned that due to the UK's reliance on commercial banks for mortgage lending, the UK is in a different position than the US regarding the establishment of limits on stablecoin holdings. This regulatory framework is being developed collaboratively by the Bank of England and regulatory bodies, aiming to strike a balance between payments and financial stability. Key areas of focus include issuer regulation, the safety of reserve assets, and access to payment systems.