BoE and FCA issue a policy paper setting out how they will regulate systemic stablecoin issuers, clarifying supervisory responsibilities and firms’ transition to joint oversight

The joint policy paper sets out how the Bank of England and FCA will coordinate the supervision of systemic stablecoin issuers, clearly defining each regulator’s responsibilities, outlining the transition from FCA-only to joint oversight once an issuer is designated as systemic, and establishing a coordinated supervisory model to streamline authorisations, reduce regulatory duplication, strengthen financial stability, and support the UK’s emerging…