Regulation · Instrument · United Kingdom · Policy statement (final rules) · Bank of England
Bank of England policy statement and draft Systemic Stablecoin Issuer Code of Practice (June 2026)
The Bank's June 2026 policy statement, with a draft Code of Practice for consultation, setting the backing asset split, replacing holding limits with an issuance guardrail, and targeting a final Code by the end of 2026.
Consultation closed · part of Bank of England regime for sterling-denominated systemic stablecoins
Key points
- Raises the maximum share of backing assets in short-term UK government debt to 70%.[1]
- Drops holding limits and applies a temporary £40bn issuance guardrail per systemic stablecoin.[1]
- Draft Code of Practice open for feedback until 22 September 2026.[1]
Timeline
- 22 Jun 2026 · ConsultationPublished.[1]
- 22 Sep 2026 · ConsultationConsultation on the draft Code closes.[1]
- Dec 2026 · Final · upcomingFinal Code of Practice expected.[1]
Deployments operating under it
None recorded with a source yet.
Sources
- [1]Bank of England launches policy statement and draft rules on regulating systemic stablecoins — Bank of England, 22 Jun 2026. Accessed 12 Oct 2026.A