The Bank of England releases stablecoin regulation plan

ChainCatcher news, the Bank of England shared its plans for regulating stablecoins in a discussion paper released on Monday, with the Bank of England set to regulate systemic stablecoins and their issuers.

The UK government stated last week that the Financial Conduct Authority (FCA) will oversee the cryptocurrency industry, including stablecoin providers. Additionally, legislation for fiat-backed stablecoins is expected to be introduced early next year.