The Bank of England said Monday it aims to "build trust" in stablecoins in the UK, which would be pegged to the pound under proposed national rules for the cryptocurrency.

The value of most stablecoins -- a form of digital currency linked to real-world money -- is kept steady by being linked overwhelmingly to the dollar.

Britain wants to introduce rules in 2026 on sterling-backed stablecoins.

The Bank of England "proposals mark a pivotal step towards implementing the UK's stablecoin regime next year", Sarah Breeden, BoE deputy governor for financial stability, said in a statement.

"Our objective remains to support innovation and build trust in this emerging form of money."

Breeden said the "proposals are fit for a future where stablecoins play a meaningful role in payments, giving the

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