A leading official said on Wednesday that the Bank of England plans to make new recommendations on bank exposure to cryptocurrencies in 2026 to protect financial stability.
David Bailey, executive director of the Bank of England, said in a speech in London that the UK is seeking to make more rules.
Bailey suggested the country might encourage banks to have low exposure to cryptocurrencies.
“In some examples, it may be more appropriate to start toward a restrictive end to the spectrum while collecting evidence to see if standards can be relaxed over time,” Bailey said. “In this area, the prudent treatment of cryptocurrencies is given to banks, especially those related to the characteristics associated with price increases and the potential loss of all investments by investors.”
The country is seeking to implement a Basel Bank’s disclosure framework for cryptocurrencies on the bank’s oversight disclosure framework. This framework must be set By early 2026 The committee said it was to help the country assess risks. The Commission also proposed rules that banks should limit contact Encryption like Bitcoin 1%.
Bailey said the UK’s plan will be “notified” in accordance with the standards set by the Basel Council.
The state has been seeking to ensure that despite crypto volatility, they can maintain financial stability by monitoring the way connected banks encrypt, especially after the 2023 crash. Silicon Valley Bank and Yinmen Bank Both have crypto customers.
The UK’s Prudential cryptocurrency rules will be formulated when other financial regulators in the country (the Financial Conduct Authority) set it as a cryptocurrency system.
Read more: UK regulators intend to start authorizing crypto companies in 2026
