Deputy Governor Dave Ramsden signals potential UK rules granting stablecoin owners similar protections to bank depositors, with legislation targeted by year-end.
Bank of England Deputy Governor Dave Ramsden stated the UK may require a deposit protection scheme for stablecoin holdings comparable to those for bank deposits. He proposed granting priority creditor status to stablecoin holders in insolvency cases and confirmed that stablecoin regulation is planned by the end of 2024.