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Bank of England gets new stablecoin innovation goal – TON BOT

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Bank of England gets new stablecoin innovation goal

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The British government plans to give the Bank of England a new objective to support innovation in payments and digital money, including stablecoins. Financial stability will still be the Bank’s primary responsibility. The Bank will report annually to Parliament on its progress under this objective. Lawmakers will debate the Financial Services and Markets Bill in September. Applications for FCA authorization open on September 30, with the mandatory crypto regime starting in October 2027. The Bank’s objective will support innovation without compromising financial stability. Regulations for systemic stablecoins have become less restrictive, with the FCA finalizing crypto rules by February 2027. The final decision on the new objective will be made by Parliament, and it aims to provide a competitive response to U.S. stablecoin regulation.

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