BoE publishes approach to joint stablecoin regulation with FCA
Framework sets out path for stablecoin issuers facing oversight from two regulators
The Bank of England has published its approach to regulating systemic stablecoin issuers together with the Financial Conduct Authority (FCA). The approach document, published today (June 30), follows on from what the BoE said would be its final systemic stablecoin policy on June 22, and sets out how the institutions will jointly regulate the assets in the UK.
The FCA will oversee all UK-issued, qualifying non-systemic stablecoins and, eventually, their use in retail payments. However, the
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