Regulatory regime for systemic payment systems using stablecoins and related service providers

⚠ The summary and findings below are the editor's working notes, pending verification against the source.

The Bank of England's proposed regime for stablecoins used at systemic scale in UK payments.

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Key findings

• Systemic payment stablecoins should be backed by deposits at the central bank (or equivalent high-quality assets).
• Proposes holding limits during a transition to manage financial-stability risks.

Topics: Regulation & Policy · Payments & Settlement · Financial Stability & Systemic Risk

Cite this

Bank of England (2023). Regulatory regime for systemic payment systems using stablecoins and related service providers Bank of England Discussion Paper.

@techreport{boe2023systemicpaymentstablecoins,
  title = {Regulatory regime for systemic payment systems using stablecoins and related service providers},
  author = {Bank of England},
  year = {2023},
  institution = {Bank of England},
  howpublished = {Bank of England Discussion Paper},
  url = {https://www.bankofengland.co.uk/paper/2023/dp/regulatory-regime-for-systemic-payment-systems-using-stablecoins-and-related-service-providers},
  note = {Indexed by Stablecoin Beat},
}

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