Bank of England Governor Wants Global Regulations as Stablecoins Pick Up Steam

[Galaxy]

The governor of the Bank of England (BoE) has said stablecoins need global regulation, warning private issuers that an international regulatory framework could soon be in the cards.

Governor Andrew Bailey said regulators have to come together for a "global response" so they can effectively regulate stablecoins.
Speaking Thursday, he said the international nature of stablecoins, which can be based in one country and operate in another, meant failure to coordinate could result in confusion and regulatory fragmentation.
Info link: https://www.coindesk.com/bank-england-stablecoin-regulation