So, the Bank of England’s Deputy Governor, Sarah Breeden, has decided to pop up at the SALT conference in London (because where else would you discuss the future of money?) and declare that the UK is totally, absolutely, 100% keeping up with the US on stablecoin regulations. 🏃♀️💨 “It’s really important,” she said, with all the gravitas of someone explaining why you shouldn’t put a toaster in the bath. Apparently, the $310 billion stablecoin industry is like a high-stakes game of musical chairs, and no one wants to be left standing when the music stops. 🎶
Breeden assured everyone that the UK will implement its stablecoin rules “just as quickly as the US,” which is either a bold promise or a clever way to avoid admitting they’re frantically Googling “how to regulate crypto” as we speak. 🤔 This comes hot on the heels of the US passing the GENIUS Act in July, which, let’s be honest, sounds like something a Bond villain would come up with. 🦹♂️
In true bureaucratic fashion, Breeden confirmed that UK regulators are “speaking” with US authorities. 🗣️ Yes, speaking. Because when it comes to international financial regulation, a quick chat over tea and biscuits is clearly the way to go. 🍵 She even dropped this gem:
“I’ve been talking to the Federal Reserve […] The regulators over there and our finance ministries are working together.”
Translation: “We’re all in this together, probably.” 🤷♀️
This follows a heartwarming meeting between UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent in September, where they pinky-swore to coordinate on crypto and stablecoins. 🌍✨ Meanwhile, UK crypto advocacy groups are still fuming that the government’s approach has left the country “lagging in innovation and policy.” Because nothing says “innovation” like a government committee debating whether blockchain is just a fancy word for a spreadsheet. 📊
And let’s not forget the Bank of England’s brilliant idea from late 2023 to cap individual stablecoin holdings at £10,000-£20,000. Lobby groups were, shall we say, less than thrilled, calling it “difficult and expensive to implement.” Shocking, I know. Who would’ve thought limiting people’s money would be a hassle? 💸🤦♂️
Canada: The Stablecoin Party Crasher 🇨🇦
Not to be outdone, Canada decided to throw its hat into the stablecoin ring on Tuesday, unveiling a plan to regulate stablecoins. Their masterstroke? Requiring fiat-backed issuers to maintain reserves and manage risks. Groundbreaking stuff. 🧑🔬 When will the legislation actually happen? Who knows! But it’s part of a grand scheme to make digital transactions “faster, cheaper, and more secure” for 41.7 million Canadians. Because nothing says “modernization” like a government document. 📜
Corporate Bigwigs Jump on the Stablecoin Bandwagon 🚀
Meanwhile, in the corporate world, stablecoins are hotter than a cup of tea left on a radiator. Western Union, SWIFT, MoneyGram, and Zelle are all jumping on the bandwagon, because apparently, traditional finance finally realized crypto isn’t just a phase. 🕺 In April, the US Treasury predicted the stablecoin market will balloon to $2 trillion by 2028. So, you know, no pressure. 💰💥
In conclusion, the world of stablecoin regulation is a bit like a Douglas Adams novel: chaotic, slightly absurd, and full of people who are probably just making it up as they go along. But hey, at least it’s never boring. 🌌😄
Read More
- AAVE PREDICTION. AAVE cryptocurrency
- SKY PREDICTION. SKY cryptocurrency
- CNY JPY PREDICTION
- USD CAD PREDICTION
- EUR GBP PREDICTION
- ETC PREDICTION. ETC cryptocurrency
- QNT PREDICTION. QNT cryptocurrency
- GBP CHF PREDICTION
- BNSOL PREDICTION. BNSOL cryptocurrency
- ETH PREDICTION. ETH cryptocurrency
2025-11-06 02:53