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The Bank of England has published a consultation paper outlining its proposed regulatory framework for sterling-denominated systemic stablecoins. This move aims to address risks associated with large-scale stablecoins that could impact financial stability. The consultation seeks input from stakeholders on measures such as capital requirements, transparency standards, and governance rules. The proposed regime could influence global crypto regulations and investor behavior in cross-border transactions. Key assets mentioned include GBP and systemic stablecoins.
