UK Plans to Give Bank of England Formal Stablecoin Oversight Role

The British government is planning to assign the Bank of England a new official objective related to stablecoins. Financial stability would continue to be the central bank's primary responsibility under the proposed framework. The new mandate would require the Bank of England to submit annual reports to Parliament on its stablecoin-related activities. The move reflects the UK's broader effort to regulate the growing digital assets sector within its existing financial institutions.