Money and power: lessons from history for stablecoins and US dollar dominance – speech by Carolyn Wilkins
Why this matters
This is a substantive policy speech by Carolyn Wilkins (BoE Deputy Governor) announcing the Bank of England's framework for regulating systemic sterling-denominated stablecoins (finalised end-2026). It sets out specific prudential conditions: reserve asset requirements, liquidity stress testing, payment-system access, and crisis-management arrangements. The speech also discusses the US GENIUS Act (July 2025) and comparative regulatory approaches. While framed as a speech (hence urgency=null), it conveys binding policy direction and regulatory expectations for a broad class of firms (stablecoin issuers, payment providers, crypto platforms). The geopolitical and monetary-system implications elevate significance beyond routine guidance.
AI-generated classification rationale, not a full analysis. Verify with the original BoE source before acting. Full disclaimer.
What the BoE said
Given at Queen’s University, Belfast
Published by BoE . Read the full notice at the source for the authoritative text.
Context
Bank of England (BoE) — UK central bank overseeing monetary policy and financial stability. We track 247 updates from them.
Financial services regulation in the UK, primarily overseen by the FCA and PRA. Browse all United Kingdom updates.
This update is classified under Prudential / Capital Requirements, Authorisation & Licensing, Operational Resilience / Outsourcing and Payments & E-Money.