Bloomberg: Bank of England plans to implement stablecoin regulations by the end of 2026

According to Odaily Planet Daily, the Bank of England will launch a consultation on stablecoin regulation on November 10th, aiming to establish a comprehensive regulatory framework by the end of 2026. The new regulations will closely align with US rules, focusing on bonds backed by digital assets. This move aims to address the financial stability risks posed by the proliferation of digital currencies. US regulations require that the backing assets must be government debt with an issuance period of three months or less, or bonds with a remaining maturity of three months or less. Sources added that the Bank of England also plans to allow a large number of assets backing stablecoins to earn interest to attract issuers. (Bloomberg)