Wire · operational-macro
Bank of England and FCA publish approach to joint regulation of systemic stablecoin issuers
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Fusion42 · 15 July 2026 · Fusion42 review
The Bank of England and FCA have published a joint approach to regulating systemic stablecoin issuers, setting out how supervisory responsibilities will be allocated between the two authorities and how firms will transition from solo FCA regulation to joint oversight. Comments are due by 30 September 2026.
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◆ ◆ The Wire takeaway
If you're building a UK stablecoin at scale, you now know exactly which regulator owns which part of your operation and what the transition path looks like - the BoE wants early conversations before you hit systemic status, so start one now, not after you're caught. The rules close comments 30 September 2026; by then the BoE will have finalised the capital, backing and safeguarding requirements that actually constrain your economics.
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