The Bank of England continues to advance the systematic stablecoin framework plan

ChainCatcher message, according to the latest consultation response, the Bank of England (BoE) plans to continue its systemic stablecoin framework. The consultation indicates that systemic stablecoins will be jointly regulated by the BoE and the Financial Conduct Authority (FCA).

In addition, the UK government has recently enacted the Financial Services and Markets Act 2023 into law, granting the BoE the authority to establish a systemic stablecoin framework.