The Financial Services Regulation Committee has launched an inquiry into the growth and proposed regulation of UK stablecoins.
The Committee is seeking submissions by 11 March 2026 on:
- How the global market for – and the issuance of – stablecoins has developed since 2014, and how the UK market compares to the US and the EU.
- How the sterling denominated stablecoin market in the UK expected to develop in the coming years, including:
- Who uses stablecoins and for what purposes; and
- Whether there are any existing regulatory rules impacting the growth of stablecoins in the UK.
- What opportunities and risks the growth of stablecoins poses for the UK’s economy and its financial services sector and retail customers.
- What evidence there is to suggest that this growth might disrupt the conduct of monetary policy and traditional financial intermediaries, and whether there are any additional financial crime considerations.
- How the growth of stablecoins will impact the regulators’ statutory objectives.
- What implications proposed regulatory regimes pose for the adoption and growth of systemic and non-systemic stablecoins in the UK and internationally.
- What the UK can learn from how other jurisdictions have approached the regulation of stablecoins.