The Bank of England is proposing a regulatory framework for this asset class through the release of a consultation document to promote stablecoin regulation.
The Bank of England (BoE) released a proposed regulatory regime for "systemically important stablecoins" pegged to the pound on Monday, stating that these tokens are widely used in payments and could pose risks to financial stability in the UK.
Under the proposal, the central bank will require stablecoin issuers to hold at least 40% of their liabilities in non-interest-bearing deposits at the BoE, while allowing up to 60% to be invested in short-term UK government debt.
The consultation document seeks feedback on the proposed regime, with a deadline of February 10, 2026, and the BoE plans to finalize the regulations in the second half of the year.
As part of the proposal, the central bank suggests limiting individual stablecoin holdings to £20,000 ($26,300) per token, while allowing retail businesses to be exempt from the proposed £10,000 ($13,200) limit.
"We propose that issuers implement a holding cap of £20,000 per token for individuals and £10 million for businesses," the BoE stated, adding that businesses requiring higher balances for normal operations could apply for exemptions.
In support of stablecoins, the BoE suggests that issuers deemed systemically important can hold 95% of their supporting assets in UK government bonds as they scale.
"Once stablecoins reach an appropriate size to mitigate the risks associated with their systemic importance without affecting the viability of the firm, the ratio will be reduced to 60%," it added.
The BoE noted that His Majesty's Treasury decides which stablecoin payment systems and service providers are considered systemically important. Once designated, these systems will be incorporated into the proposed regime and subject to BoE oversight.
Related: Analysts: Comments on Bitcoin (BTC) price crash mostly come from self-serving sellers
Original: “Bank of England Launches Stablecoin Regulatory Consultation, Plans Final Rules by 2026”
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