The Bank of England pledges to stay aligned with the US on stablecoin regulation

Jinse Finance reported that Sarah Breeden, Deputy Governor of the Bank of England, stated that the UK government is likely to keep pace with the United States in the regulation of stablecoins, emphasizing that it is "crucial" for these two allies to achieve coordination on regulatory rules for this $310 billions industry. Breeden said at the SALT conference in London on Wednesday that the UK will implement a stablecoin regulatory framework "as quickly as the United States"—a statement that dispelled concerns about the UK lagging behind in this area, especially after the US passed the landmark GENIUS Act in July. This statement further advances the previous momentum of cooperation. In September this year, UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent held a meeting, during which the two countries agreed to strengthen coordination on crypto and stablecoin-related activities. The background of this meeting is that several UK crypto advocacy organizations had previously called on the UK government to adopt a more open attitude towards the crypto industry, claiming that the current policy stance has caused the country to fall behind in industry innovation and regulatory policy.