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The Central Bank of England has unveiled a detailed plan to regulate stablecoins pegged to the pound sterling. The document sets out the criteria for assets that provide these digital currencies. According to the new rules, at least 60% of reserves must be placed in short-term government bonds.

It is recommended to keep the remaining part of the reserve fund in interest-free accounts that guarantee instant access to funds. This will allow token holders to freely exchange them under any market conditions.

A limit of 20,000 pounds is set for individuals to own such assets. Legal entities and operators of trading platforms will be able to own stablecoins worth up to 10 million pounds. However, this limit can be adjusted depending on specific operational needs.

Compliance with the new rules will be monitored jointly by the Bank of England and the Financial Conduct Authority. According to the head of the Bank of England, Andrew Bailey, the main goal is to make stablecoins a full–fledged payment instrument, and not just a means for trading other crypto assets. He believes that regulated stablecoins and tokenized bank deposits have the potential to become an integral part of the financial infrastructure, on a par with traditional money.

The discussion of the proposed rules will last until February 10, 2026. Earlier this fall, Sarah Breeden, Deputy Governor for Financial Stability, proposed creating a universal payment system combining stablecoins, bank deposits, and central bank digital currencies.

In general, the Bank of England has introduced a comprehensive approach to the regulation of sterling stablecoins, seeking to create a safe and controlled environment for their circulation and considering them as a potentially important component of the future financial system of Great Britain.