Bank of England Governor Bailey: Stablecoin regulation could trigger a battle between US and international regulators.

According to a Reuters report, Bank of England Governor Andrew Bailey stated at a financial imbalance conference that for stablecoins to become part of the global payment system, internationally unified standards must be established, which will create a direct confrontation with the Trump administration. Bailey also expressed concern that some US stablecoins cannot be directly exchanged for US dollars during the crisis and must be transferred through crypto exchage, posing a liquidity risk. He warned that if a run on stablecoins occurs, funds will flood into jurisdictions with mandatory convertibility obligations, such as the UK. Bailey currently serves as Chairman of the Financial Stability Board (FSB) and has long held a cautious stance on cryptocurrencies.