Systemic stablecoin regulation — UK authorities joint approach
Summary: Stablecoin policy (30 June 2026): UK authorities set out joint Bank of England and FCA oversight for payment-focused stablecoins that could pose systemic risk. Holders should still treat stablecoins as risky — not FSCS-protected bank deposits. See our stablecoin guides and the gov.uk joint statement.
What changed
UK authorities set out how they will work together to supervise stablecoin issuers that could pose systemic risk. This is separate from everyday consumer crypto exchange rules but affects payment stablecoins.
What consumers should know
Stablecoins are not FSCS-protected bank money. Even regulated issuers can fail or de-peg. Read our stablecoin risk guide before holding large balances.
Frequently asked questions
Are all stablecoins regulated now? +
No — the joint approach targets systemic issuers. Other tokens may have lighter or no UK issuer regulation.