HM Treasury announced on Aug 27 a plan to add a secondary objective for the Bank of England: supporting innovation in payment systems and emerging digital money. The change explicitly covers stablecoins and other digital settlement assets.
Financial stability remains the Bank of England's primary objective.
The change would be implemented through amendments to the Financial Services and Markets Bill. Further debate is scheduled in the House of Lords on Sept 7 and Sept 9. The plan also includes annual progress reports to Parliament.
CoinDesk / CoinTelegraph (HM Treasury proposal)