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

Bank of England · Bank of England Discussion Paper · Bank of England

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

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Relevance to stablecoin measurement

UK regulatory approach; complements MiCA/GENIUS in the regulation construct.

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.

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Cite this

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

BibTeX

@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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