Bank of England Governor Andrew Bailey joins a growing list of European officials concerned with the rise of stablecoins.

Bailey warned that stablecoins could draw liquidity from the banking system, reducing the funds available for lending. He said he would "prefer" banks to offer digital versions of traditional currencies—i.e., tokenized deposits—rather than stablecoins.

Bank of England Governor Warns Banks: Don't Issue Your Own Stablecoins

According to The Times, Bank of England Governor Andrew Bailey opposes large banks issuing their own stablecoins, arguing that tokenised deposits should be prioritized, and warning that stablecoins could lead to "outflows from the banking system" and threaten the "credit creation system." [Foresight News]

The Governor of the Bank of England Opposes Banks Issuing Stablecoins, Advocates Developing Tokenized Deposits

Bank of England Governor Andrew Bailey has expressed opposition to large banks issuing their own stablecoins, arguing that priority should be given to developing digitized bank deposits (tokenized deposits) to avoid capital outflows from the banking system and weakening credit capacity. He warned that stablecoins could trigger risks such as runs and money laundering, a stance that conflicts with the Trump administration's support for dollar-pegged stablecoins. (Bloomberg) [Odaily Planet Daily News]

The Governor of the Bank of England opposes banks issuing stablecoins and advocates for the development of digital deposits.

On July 14, according to Bloomberg, Bank of England Governor Andrew Bailey warned global mega-banks against issuing their own stablecoins in an interview with The Times. This stance may conflict with the Trump administration's policy of supporting digital assets. Bailey stated that he would "much prefer" banks to offer digital versions of traditional currencies (i.e., tokenized deposits) rather than stablecoins. He warned that stablecoins could draw funds out of the banking system, reducing the amount of funds available for lending. Previously, the Bank for International Settlements also pointed out that the growth of stablecoins poses new risks to regulators. [Deep Tide TechFlow]

Bank of England Governor Warns Banks Not to Issue Stablecoins

On July 14, according to Cointelegraph, Bank of England Governor Andrew Bailey recently warned banks not to issue stablecoins, saying that the Bank of England should focus on deposit tokenization. Stablecoins pose a systemic risk to banking institutions, which could destabilize the entire financial system and cause sovereign governments to lose control of their national currencies. The Bank of England should not adopt a central bank digital currency (CBDC), nor should it attempt to launch a centrally managed digital fiat currency token. Andrew Bailey currently serves as Chairman of the Financial Stability Board (FSB), an international financial regulatory body, and may strengthen the regulation of stablecoins in the future. In addition, officials from several European countries have also expressed concern about the US push for dollar stablecoins, believing that this could threaten the status of the euro. [BlockBeats]

The Governor of the Bank of England Warns Against Issuing Private Stablecoins

News, July 14th, according to Cointelegraph, Andrew Bailey, the Governor of the Bank of England, recently warned banks not to issue stablecoins, and stated that the Bank of England should focus on deposit tokenization. Stablecoins could pose systemic risks to banking institutions, potentially destabilizing the entire financial system and leading to sovereign governments losing control of their domestic currency. The Bank of England should not adopt a central bank digital currency (CBDC) or attempt to introduce centrally managed digital fiat tokens. Andrew Bailey currently serves as the Chair of the Financial Stability Board (FSB), an international financial regulatory body, and may strengthen regulation of stablecoins in the future. Additionally, officials from multiple European countries have expressed concerns about the U.S.'s efforts to promote a USD stablecoin, suggesting that this could threaten the euro's position. [BlockBeats]

Bank of England Governor Warns Against Issuing Private Stablecoins

On July 14, Cointelegraph reported that Bank of England Governor Andrew Bailey recently warned banks not to issue stablecoins, stating that the Bank of England should focus on deposit tokenization. Stablecoins pose systemic risks to banking institutions, potentially destabilizing the entire financial system and causing sovereign governments to lose control over their national currencies. The Bank of England should not adopt a central bank digital currency (CBDC), nor should it attempt to launch a centrally managed digital fiat currency token. Andrew Bailey currently serves as Chairman of the Financial Stability Board (FSB), an international financial regulatory body, and may strengthen the regulation of stablecoins in the future. In addition, officials from several European countries have expressed concerns about the United States' plan to promote dollar stablecoins, believing that this may threaten the status of the euro. [BlockBeats]

On July 14 (UTC+8), Bank of England Governor Andrew Bailey warned that banks issuing stablecoins could pose systemic risks, threaten the stability of the financial system, and potentially lead to the loss of control over sovereign currencies. Bailey currently serves as Chairman of the Financial Stability Board (FSB), an international financial regulatory body, and may strengthen the regulation of stablecoins in the future. (Source: Bitpush) [MetaEra]

The Governor of the Bank of England Warns of the Risks of Issuing Private Stablecoins, Suggesting a Focus on Deposit Tokenization

Bank of England Governor Andrew Bailey has expressed opposition to large banks issuing their own stablecoins, arguing that the priority should be the development of tokenized deposits to avoid capital outflows from the banking system and weakening credit capacity. He warned that stablecoins could trigger risks such as runs and money laundering, a stance that conflicts with the Trump administration's support for dollar-pegged stablecoins. [Bloomberg]

Bank of England Governor Warns Banks Not to Issue Stablecoins, Opposes Introduction of Digital British Central Bank Governor Andrew Bailey opposes banks issuing stablecoins, calling for priority to be given to the development of digital deposit pounds

Bank of England governor warns against private stablecoin issuance

英格兰银行行长Andrew Bailey加入了越来越多担忧稳定币崛起的欧洲官员行列。

英格兰银行行长警告反对私营机构发行稳定币

英格蘭銀行行長Andrew Bailey加入了越來越多擔憂穩定幣崛起的歐洲官員行列。