Finance
Bank of England's Breeden urges closer UK-US stablecoin collaboration
Published by Global Banking & Finance Review®
Posted on November 5, 2025
2 min readLast updated: January 21, 2026
Quick Summary
Bank of England's Sarah Breeden urges UK-US collaboration on stablecoin regulation, with a BoE consultation set for November 10 focusing on systemic stablecoins.
Bank of England's Breeden Calls for Enhanced UK-US Stablecoin Cooperation
By Phoebe Seers and Nell Mackenzie
LONDON (Reuters) -Bank of England deputy governor Sarah Breeden said on Wednesday it was "really important" for the U.S. and Britain to be synchronised on regulation of stablecoins.
Breeden's comments come less than a week before the BoE launches a consultation on regulating stablecoins – cryptoassets pegged to a fiat currency or other reserve asset – that will soften previous proposals.
Breeden confirmed reports that the consultation would be published on November 10.
"I've been talking to the Federal Reserve... The regulators over there and our finance ministries are working together," said Breeden at the SALT conference in London.
The U.S. and British governments announced in September a joint task force aimed at boosting collaboration on digital assets and capital markets.
The BOE’s proposals will only apply to "systemic" stablecoins, or those deemed capable of becoming widely used for payments. The rest will be regulated by the Financial Conduct Authority under a less stringent regime.
The central bank has faced criticism from the crypto industry over its plan to introduce limits on the amount of cryptoassets that individuals and businesses can hold, a proposal not replicated in other large financial centres.
(Reporting by Phoebe Seers and Nell MackenzieEditing by Gareth Jones)
Key Takeaways
- •Sarah Breeden calls for UK-US stablecoin regulation alignment.
- •BoE to launch stablecoin regulation consultation on November 10.
- •Consultation to focus on 'systemic' stablecoins.
- •UK and US announced a joint task force for digital assets.
- •BoE faces criticism over cryptoasset holding limits.
Frequently Asked Questions about Bank of England's Breeden urges closer UK-US stablecoin collaboration
1What is a stablecoin?
A stablecoin is a type of cryptocurrency that is pegged to a stable asset, such as a fiat currency or commodity, to minimize price volatility.
2What is the role of the Bank of England?
The Bank of England is the central bank of the UK, responsible for monetary policy, issuing currency, and maintaining financial stability.
3What is a consultation in regulatory terms?
A consultation is a process where regulatory bodies seek feedback from stakeholders and the public on proposed regulations or policies.
4What is the Financial Conduct Authority (FCA)?
The FCA is a regulatory body in the UK that oversees financial markets and firms to protect consumers and ensure market integrity.
5What are digital assets?
Digital assets are any assets that exist in a digital form, including cryptocurrencies, tokens, and other forms of digital currency.
