According to Techinasia, Bank of England Governor Andrew Bailey has stressed that banks should not issue stablecoins on their own, as they could pose systemic risks and weaken the control of sovereign currencies. Bailey advocates for the preference of tokenized deposits over stablecoins or central bank digital currencies (CBDCs).
This stance stands in sharp contrast to the direction the Trump administration is pushing for stablecoin legislation, which would allow private institutions to issue stablecoins through the GENIUS Act.
The governor of the Bank of England has warned that banks should not issue stablecoins on their own
2025-07-14 05:24:35
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