Bank of England's Governor Advocates for Stablecoin Regulation

Andrew Bailey, the Governor of the Bank of England, has called for stablecoins to be regulated like traditional money, recognizing their growing role in the financial system. He believes that proper regulation can enhance consumer protection and financial stability while fostering innovation. Additionally, Bailey sees stablecoins as a potential catalyst for shifting the financial system away from conventional commercial lending, promoting greater accessibility and efficiency in banking.