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Stablecoin issuers could see eased regime for systemic payment systems, BOE signals

By Phoebe Seers ( May 6, 2025, 13:41 GMT | Insight) -- An unpopular UK regulatory proposal for systemic payment systems using stablecoins to be fully backed by non-interest bearing central bank deposits could be watered down, two senior Bank of England officials indicated today. Bank of England deputy governor Sarah Breeden said it is considering how it might permit some stablecoins to "receive some return" on backing assets, while financial market infrastructure chief Sasha Mills said "some aspects of the regime" would probably be amended. A UK regulatory framework for systemic payment systems using stablecoins could be made less burdensome than currently proposed, two senior Bank of England officials indicated today....

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