UK Stablecoin Regulations Targeted for 2026 as BOE Launches Consultation
The Bank of England will open public consultation on November 10 to establish a regulatory framework for stablecoins, with full implementation expected by 2026. The UK plans to mirror US approaches to asset-backed stablecoin oversight, addressing growing market demand for clarity.
Crypto adoption in Britain has surged from 2.2 million holders in 2021 to 7 million today, yet regulatory uncertainty persists. HM Revenue & Customs has intensified tax compliance efforts, issuing warnings to investors about undeclared crypto gains.
Since announcing ambitions to become a digital asset hub in 2022, UK authorities have faced criticism for slow progress. The Treasury and FCA now aim to balance innovation with consumer protection through comprehensive stablecoin legislation.
