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Bank of England Governor Andrew Bailey warns of a "coming wrestle" with the U.S. over stablecoin standards.
Andrew Bailey warned that U.S. stablecoin rules could shift redemption risk onto the UK during crises.
KEY POINTS
- The UK requires stablecoin 1:1 redemption at all times, while the U.S. offers a seven-day redemption window.
- FSB shapes baseline international stablecoin standards, influencing regulation despite lacking formal rulemaking power.
- UK could exclude non-compliant U.S. stablecoins from regulated payment rails to enforce local standards.
COMPANIES
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