The governor of the Bank of England (BOE), Andrew Bailey, recently warned banks against issuing stablecoins, saying the BoE should focus on deposit tokenization. At the same time, stablecoins pose a systemic risk to banking institutions, potentially destabilizing the entire financial system and causing sovereign governments to lose control over their currencies.
He also added that the Bank of England should not adopt a central bank digital currency (CBDC) or otherwise seek to launch a centrally managed digital fiat token.
Bank of England governor warns banks not to issue stablecoins and should focus on deposit tokenization
2025-07-13 22:50:17
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