UK central bank is warming up to stablecoins, but says industry input is lacking

The Bank of England is open to fixes on its proposed stablecoin framework, but one official said it needs better feedback from crypto industry participants.

The Bank of England’s (BOE) position on stablecoins is evolving to a more friendly stance, but according to the bank’s deputy governor, constructive dialogue with the industry is still lacking.

The UK’s central bank launched a consultation on stablecoins in November last year. Some of the proposed requirements drew the ire of crypto industry representatives, who claimed they could stifle innovation. 

Over the past few months, the bank has been working with industry groups to develop its stance on stablecoins. These include revising backing requirements and rethinking account limits. 

Some industry observers believe that the bank is coming around on stablecoins, but there is still work to be done.

Bank of England open to feedback on stablecoin risk

On Nov. 10, 2025, the BOE released a document outlining its vision for a stablecoin regulatory regime. This came two years after an initial discussion paper which, according to the bank, included the perspectives of “banks, non-bank payment service providers, payment system operators, trade associations, academia, and individuals.”

One of the more controversial measures was stablecoin holdings limits, namely 20,000 pounds for individuals and 10 million pounds for businesses that accept it as a form of payment.

Now, it appears that the bank is coming around. Speaking before the House of Lords Financial Services Regulation Committee on Wednesday, BOE Deputy Governor Sarah Breeden told MPs that it is open to reconsidering those limits.