The UK Central Bank has established rules that Libra stablecoin on Facebook to be leased must comply with in order to be issued in the UK.
The Bank of England presented its latest summary and financial policy record at a meeting of the Financial Policy Committee (FPC) on 9 October.
The paper, which deals with the resilience of the UK financial system in general, discusses innovative developments in the payment sector, noting that Libra has the potential to become a "systemically important payment system".
The FPC indicated that it would require payment systems such as Libra to meet the highest standards of resilience and be subject to adequate supervision. In addition, the Committee called on regulators to adopt conditions for involvement in innovative payment systems before they become operational.
