Sarah Breeden, Deputy Governor of the Bank of England, confirmed that the UK will closely follow the US and accelerate the introduction of regulatory rules for stablecoins used in systemic payments. She emphasized that keeping in sync with the US on stablecoin regulation is crucial for the two major financial centers, alleviating market concerns about the UK potentially lagging behind in digital asset regulation.
After the passage of the US GENIUS Act, the UK's rapid response highlights the urgency for major global economies to establish a unified regulatory framework for stablecoins as a key financial infrastructure. Regulatory consistency is expected to reduce the compliance costs and uncertainties faced by international financial institutions when adopting stablecoins for cross-border settlements.
