Bank of England Drops Stablecoin Regulation Bomb—Mark Your Calendars for November 10
The Bank of England just fired the starting gun on crypto’s next regulatory showdown. Stablecoins—the so-called ‘safe havens’ of digital assets—are finally getting their rulebook. And it’s landing in three days.
Why This Matters
No more wild west for dollar-pegged tokens. The BoE’s move signals a tightening grip on the sector—whether it’ll stifle innovation or finally bring institutional cash is the billion-pound question.
The Fine Print
Details? Still under wraps. But with Threadneedle Street involved, expect red tape wrapped in more red tape. After all, what’s finance without a little bureaucratic performance art?
Mark November 10. The crypto crowd will either cheer or groan—but they’ll all be watching.
UK plans stablecoin rules and market innovations
🚨BIG!!!
The UK says its stablecoin regulations will roll out “as fast as the US” 🇬🇧
Bank of England's Sarah Breeden says they’re building stability + adoption in sync with global markets. pic.twitter.com/TbebXwH742
— Kyle Chassé / DD🐸 (@kyle_chasse) November 6, 2025
Breeden stated that temporary stablecoin restrictions of up to £20,000 ($26,000) for individuals and £10 million for enterprises are part of the upcoming proposals. According to Breeden, the UK’s mortgage industry is primarily bank-based, which makes it more susceptible to sudden changes of deposits into stablecoins.
Breeden added that the Bank of England’s overarching goal is to ensure that its framework is operational as rapidly as the U.S. She urged that it’s important to remember, though, that prioritizing everything isn’t always the greatest option.
According to Breeden, being effective is just as important as being first. The UK remains significantly behind the U.S. in terms of overall technological breakthroughs and product development. Brendan claimed that the U.S. economy is far bigger and more varied than the UK’s in every way.
The Bank of England’s announcement coincides with mounting pressure on the UK to comply with recent U.S. crypto rules and regulations in order to remain competitive.
On 9 October, the UK government announced its intention to designate a “digital markets champion”. The digital market champion will lead ongoing initiatives to improve the UK government’s wholesale financial markets through the use of blockchain and DLT technology.
Additionally, the government plans to establish the Dematerialization Market Action Taskforce, a new organization that will oversee the UK’s transition away from paper share certificates.
UK FCA lifts crypto ETN retail ban
Notably, on October 8, the UK Financial Conduct Authority (FCA) lifted the 4-year retail ban on cryptocurrency ETNs, expanding availability beyond professional investors for the first time.
The FCA stated that the end of restrictions brings the UK into line with nations including the U.S., Canada, Hong Kong, and the EU. The lifting of the ban will also allow anyone to access cryptocurrency investment products as long as they are traded on an FCA-approved investment exchange.
“Allowing retail investors to gain exposure through UK-recognized exchanges keeps this activity within the regulatory perimeter, rather than pushing consumers offshore to less regulated environments.”
-Mark Aruliah, Elliptic Head of EMEA Policy and Regulatory Affairs.
Aruliah added that the momentum of market developments and regulatory progress in cryptocurrency counts. He argued that to remain competitive, the UK must maintain the pace at which other regions, such as the U.S. and Singapore, are advancing.
The end of the restriction follows a consultation process carried out earlier this year. The FCA first suggested in June that the prohibition on cryptocurrency ETNs for individual investors be lifted.
FCA Executive Director of Payments and Digital Finance David Geale explained that the market has changed since the FCA limited retail access to ETNs. He added that ETNs are now more widely available and well-understood.
Geal claimed that although the FCA has stated that it will continue to monitor market developments and review its approach to high-risk investments, ETN products are still not listed on the London Stock Exchange. He claimed that retail investors cannot purchase ETNs since the ban on crypto asset derivatives for retail remains in place.
According to BRETT Hillis, partner and crypto regulation expert at international law firm Reed Smith, crypto ETNs are considered the safest and most prudent method for investing in bitcoin. Hillis claimed that the FCA is unlikely to allow consumers access to cryptocurrency derivatives due to their complexity and the regulator’s high standards for consumer safety.
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