Key Takeaways:
- The Bank of England is hitching its horse to the US stablecoin wagon.
- Deputy Governor Sarah Breeden reveals they’re already gossiping with the Fed.
- Did someone say Canada? Yep, they’re on this party wagon too. Speaking at the SALT conference in London (imagine all those untouched salad bars), Breeden admitted that the UK and US are basically holding hands over digital assets. They’re determined not to let Washington strut ahead after the recently passed GENIUS Act (because who doesn’t want a genius around the house?).
She stressed the importance of being a good “paired card” with the US financial system – because apparently, synchronized finance is the new synchronized swimming. A joint framework is sure to pep up those cross-border charms and patch up any awkward ‘regulatory gaps.’
Bank of England Deputy Governor Sarah Breeden said new stablecoin rules will sprint “as fast as the US.” ✨ She’s like, “Nope, Britain isn’t lagging” – quite the sass!
– Bloomberg (@business)
When Britain Met America: The Financial Fast-Friends
On November 10, the Bank of England plans to premiere its long-awaited stablecoin consultation document. It’s like they’re scratching their heads, wondering how that digital pound might fit into an adult version of “Monopoly.” Breeden has been chirping up the US Federal Reserve, ensuring everyone speaks the same lingo about risk and regulation.
This fits like a glove following a meet-and-greet between Chancellor Rachel Reeves and Scott Bessent from the US Treasury in London. They were probably debating over a British cuppa how to regulate pixie dust coins together – a fun bonding activity among G7 pals.
UK fintech enthusiasts can’t stop nudging their government, stressing that lagging behind means tethering away the talent. “Hurry up, or we’ll turn into crypto-relics!” they cry.
A Bit of Backlash, Then Full-Speed Forward
The Bank of England’s received a gentle (and some not-so-gentle) nudge regarding earlier rule proposals. Initial ideas of limiting individual coin caps – between £10,000 and £20,000 – were met with side-eye and dismay. The Bank has since promised to draw the line with the precision of a trapeze artist, balancing safety and growth.
Canada, Are You Ready?
Oh Canada, don’t think you’re out of the spotlight! This week, they revealed their strategy for a fully-reserved stablecoin gig, topped with a cherry of modern payment plans. Can we hear an “O Canada,” while crossing our fingers this goes swimmingly?
Big Institutions Are All in
Major payment networks and money-hoppers are not waiting around either. SWIFT, Western Union, MoneyGram, and Zelle are diving (sometimes literally) into stablecoin waters to cut out the international expense interlude. The US Treasury predicts this digital dollar dance could be worth a cool $2 trillion by 2028 – like a dance floor growing muscles.
For Breeden and her cocktail party of regulators, the path is laid with ambition – keeping the UK as chic and competitive as its favourite sartorial influencers. And, Canadian snow mightn’t be so bad if they keep up this pace!
Note: Everything in this fabulous blog post is for educational tasting only and carries no financial investment advice. Coindoo.com doesn’t endorse any financial journey – take a look-see and chat up a licensed financial advisor first! 💡🤓
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2025-11-06 13:09