The President of the Bank of England appears to be alert on the Big Bank Stablecoin version star-news.press/wp

Bank of England governor Andrew Billy warned against allowing major banks to version of their Stablecoins.

This clearly contradicts the United States, as Stablecoin’s adoption remains one of the largest elements in Trump’s agenda to make the United States the capital of encryption in the world.

Billy prefers distinctive deposits on Stablecoins to protect financial stability

Billy cited risks to financial stability, lending ability, and the possibility of money laundering on a large scale as reasons for his preference for banks that adopt distinctive deposits.

This means that BOE Board of Directors prefers digital versions of traditional funds instead of creating or supporting STABLECOINS in particular.

His remarks come amid the continuous shift in the global financial system, as traditional banking lines and decentralized financing (Defi) have become increasingly unclear.

Billy’s position reflects the deep concern in the Central Banking in the UK that the uncomfortable height of Stablecoins may undermine the basic functions of modern banking services, which are monetary control and credit creation.

“If Stablecoins take money from the banking system, banks have less lending ability,” Bloomberg I mentioned Billy warning, citing an interview with the Times.

The Governor of the Bank of England has also argued that the adoption of financial institutions for the nails may lead to lack of mediation, liquidity imbalances, and an increase in the risk of sudden clouds, especially during strain periods in the market.

It is worth noting that such a scenario is called a bank’s role, closer to what happened during the FTX collapse.

It is compatible with a recent report, as European officials warned that Stablecoins USD threatens the sovereignty of Europe and stability.

Against this background, MICA regulations offer strict rules to enhance the euro -backed digital innovation.

Stablecoin crime risks and growing in the UK policy and United States on digital funds

Bailey, who also heads the Financial Stability Council (FSB), a major global body that oversees the regular financial risks, extended his criticism to include concerns about financial crimes.

With vast amounts that are likely to move across Stablecoin’s private networks outside the organized channels, he said there is an increasing danger to enabling criminal activities such as money laundering, without adequate supervision or guarantees.

This position puts the United Kingdom at odds with the United States during the era of President Donald Trump, whose administration has followed a more lenient approach.

The new American legislation sets the basic work for the adoption of the organization, which is subject to the organization under the law of genius. In the same way, it paves the way for a dollar -backed Stablecooin, which has already raised a $ 2.2 billion market ceiling.

On the contrary, the UK seems more cautious, preferred a model that combines digital financing in the current cash infrastructure rather than bypassing it.

“As a result of this increasing concern with Stablecoins, the European Central Bank once again emphasized the need for the digital euro as a possible balance,” the Economic Auditing Unit and the European Monetary Union (Egov) He said newly.

Billy’s comments also raise doubts about the possibility of a central bank’s digital currency (CBDC) in the United Kingdom. She hinted that the issuance of a digital pound may be unnecessary, describing it as “reasonable” for the United Kingdom to focus instead on numbering commercial bank deposits.

The President of the Bank of England says this model is more compatible with the current banking system and less disturbing to transfer monetary policy.

Meanwhile, his preference for distinguished deposits indicates a wider batch to update payments and settlement bars while preserving the role of banks as credit mediums.

Post Bank of England Sounds appeared on Big Bank Stablecoin for the first time on Beincrypto.

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2025-07-13 21:52:00