UK Finance has responded to a series of Financial Conduct Authority (FCA) and Bank of England consultations on stablecoin regulation. 
 
UK Finance members are generally supportive of the direction of travel from the Bank and FCA on how systemic stablecoin issuers will be regulated and supervised.
 
The three key takeaways from this document are:
  • Broad support for the policy design.
  • Further economic modelling and policy thinking needed on how specific mechanisms in the developing regime mitigate risks appropriately.
  • Further policy and technical thinking needed on how intermediaries would fall in-scope.
Summer 2026 stablecoin consultations