TechFlow news, July 14 — According to Bloomberg, Bank of England Governor Andrew Bailey warned global major banks against issuing their own stablecoins during an interview with The Times, a stance that may conflict with the Trump administration's pro-digital asset policy. Bailey said he "would prefer" banks to offer digital versions of traditional currencies (i.e., tokenized deposits) rather than stablecoins. He warned that stablecoins could drain funds from the banking system, reducing the amount of money available for lending. Previously, the Bank for International Settlements also pointed out that the growth of stablecoins poses new risks to regulators.
Add to Favorites
Share to Social Media
