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