BoE Dey Propose GBP Stablecoin Rules Wey Get 40% Backing and Caps
Bank of England don start consultation on how to regulate GBP stablecoin, the consultation go run till 10 February 2026, dem wan finish rule for second half of 2026. According to the plan, issuer go need back every token with at least 40% wey dem hold as deposit for Bank of England and the rest for short-term UK government bonds. Stablecoins wey be systemically important for GBP fit hold up to 95% in gilts during growth phase but e go reduce to 60% as dem mature. The plan still put cap say person no fit hold pass £20,000 per token and company no fit hold pass £10 million, except big institutions dem. HM Treasury go give system status, Bank of England go set prudential requirements and liquidity facilities, FCA go dey watch conduct. Non-systemic stablecoins like USDT and USDC go remain under FCA regulation only. By the clarification of stablecoin regulation, Bank of England wan make UK policy align with global mata and give crypto traders better certainty while dem balance innovation with monetary stability.
Neutral
Di BoE consultin on GBP stablecoin regulation na aim to give clear an steady ground for pound-linked tokens, dem wan reduce di wahala for issuers an traders. By set backin requirements an holdin caps, di framework dey chop system risk small without put market growth for immediate restriction. Dis balanced way no go make GBP stablecoins prices waka anyhow sharp sharp, but e fit help steady adoption an market belief for long run, show say e no go too shake stablecoin prices.