Update
Bank of England to be 'the banker to the stablecoin'
The Bank of England has announced it will serve as the 'banker to the stablecoin,' a significant move in the stablecoin debate. This announcement follows a June 22, 2026 policy statement that softens several of the bank’s earlier proposals for sterling-denominated stablecoins. The changes include a new cap on issuance and a shift in the composition of reserves. The new framework, which includes a draft Code of Practice for stablecoin issuers, aims to enhance financial stability and innovation, influencing global regulatory approaches. The Bank of England’s goal is to guarantee prompt redemption and strong protections for stablecoin users, while making room for central bank support. The framework is expected to be fully implemented by the end of 2026, with stablecoin operations slated to begin in 2027.