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

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]