The UK plans to include support for the stabilization of currency innovation in the official mission of the Bank of England

The British Government plans to support currency stabilization as one of the official missions of the Bank of England (BoE), while maintaining financial stability as its primary responsibility. This initiative came after BoE was criticized for its restrictive policy towards the currency of stability, and the British Parliamentary Committee warned that the United Kingdom was “back behind” the United States and the European Union in this area. The global stable currency market is currently about $310 billion in size, but less than 0.5 per cent in pound sterling. BoE has removed the proposed personal holding restrictions and has set a temporary cap of Pound40 billion per systematic stabilization currency. The Bank will also report annually to Parliament on its progress in paying for innovations。