A late-2026 deadline targets finalizing draft stablecoin regulations. A joint Bank-FCA Digital Securities Sandbox includes major financial firms scaling live tokenized markets. The Bank of England is consulting on expanding RTGS infrastructure toward 24/7 operations by 2030. Draft rules for systemic stablecoins are planned for publication next month, with a year-end regulatory framework aligned with the U.S. timeline. Policymakers are reviewing risk-management approaches after industry pushback. Temporary guardrails may focus on total stablecoin issuance rather than individual holding caps to reduce compliance costs while safeguarding credit supply. Retail payments are envisioned as a multi-money system enabling tokenized bank deposits, regulated stablecoins, and potentially a retail CBDC. Banking groups may issue stablecoins via non-deposit-taking, insolvency-remote entities, with distinct branding to prevent consumer confusion and contagion.
"Alongside traditional bank deposits, people should be able to pay with tokenized bank deposits, regulated stablecoins and, potentially, a retail central bank digital currency. Under the upcoming framework, traditional banking groups will be permitted to issue stablecoins, provided they do so through a non-deposit-taking and insolvency-remote entity. To prevent consumer confusion and potential contagion, the central bank will require distinct branding that separates stablecoins from traditional, insured bank deposits."
#stablecoin-regulation #rtgs-payments-infrastructure #tokenized-markets #retail-payments #digital-assets-risk-management
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