Regulation · Stablecoins · Monday, 22 June 2026 · 2 min read · Token+ Intel desk
Bank of England finalises its systemic stablecoin policy
The Bank has published its approach to sterling systemic stablecoins; Reuters reported the final framework was softer than the draft.
Key points
- The Bank published its policy on sterling-denominated systemic stablecoins.
- Reuters described the final rules as softened relative to earlier proposals.
- The FCA and the Bank later set out a joint approach to regulating systemic issuers.
The Bank of England has published its policy on sterling-denominated systemic stablecoins. Reuters reported that the Bank softened its rules in the final framework.
A week later the FCA and the Bank set out how they would jointly regulate systemic stablecoin issuers. Law firms including Freshfields and Linklaters have published analysis.
The Democratize view
A workable sterling stablecoin regime matters for UK tokenised securities, because DvP needs a sterling settlement asset outside banking hours.
Opinion of the Democratize editorial team.
What to watch: First applications for systemic status.
Sources
- Bank of England · Sterling-denominated systemic stablecoins · Monday, 22 June 2026 Regulator
- Reuters · Bank of England softens stablecoin rules in final policy draft · Monday, 22 June 2026 Financial publication
- FCA · FCA and the Bank of England set out approach to joint regulation of systemic stablecoin issuers · Monday, 29 June 2026 Regulator
- Freshfields · One systemically important issuer, two regulators · Thursday, 30 July 2026 Research
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Claudia Harken
Head of Marketing and Communications
Claudia Harken leads marketing and communications at Democratize.