Bank of England Assigned New Duty to Foster Stablecoin Innovation
The UK government is set to expand the Bank of England's responsibilities by assigning it a new legal duty to promote stablecoin innovation, while ensuring that financial stability remains its primary objective. This change will be formalized in a bill presented to the House of Lords in September.
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Bank of England set for new innovation mandate covering stablecoins
The UK plans to expand the Bank of England’s remit to support digital payments innovation, including stablecoins, while keeping financial stability first.
Bank of England Handed New Legal Duty to Foster Stablecoin Innovation
Financial stability stays the Bank's primary objective, with the new duty written into a bill due before the Lords in September.
Bank of England gets new stablecoin innovation goal
Britain plans to give the Bank of England a secondary stablecoin innovation objective while keeping financial stability its primary duty.