{"id":101361,"date":"2025-10-01T16:01:26","date_gmt":"2025-10-01T16:01:26","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=101361"},"modified":"2025-10-01T16:01:26","modified_gmt":"2025-10-01T16:01:26","slug":"bank-of-england-governor-signals-major-shift-on-stablecoins-could-transform-uks-financial-system","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=101361","title":{"rendered":"Bank of England Governor Signals Major Shift on Stablecoins: Could Transform UK\u2019s Financial System"},"content":{"rendered":"

Andrew Bailey, the Bank of England (BoE) Governor has dramatically softened his stance on stabelcoins. Talking to the Financial Times on 1 October 2025, Bailey said that it would be\u00a0 \u201cwrong to be against stablecoins as a matter of principle.\u201d<\/span><\/p>\n

S<\/span>tablecoins are digital tokens designed to maintain a stable value by being pegged to traditional currencies like the British Pound at a one-to-one ratio. And unlike Bitcoin, stabelcoins can offer stability while offering benefits of digital transactions. Hence,\u00a0 Bailey\u2019s latest comments could finally indicate UK\u2019s acceptance of stablecoins. Especially since industry analysts at Citigroup predict this market could explode to $4 trillion by 2030.<\/span><\/p>\n

Opinion: Stablecoins could form a major part of the shift in the financial system away from reliance on commercial banks for lending, governor of the Bank of England Andrew Bailey said in an article for the Financial Times https:\/\/t.co\/kUF8N6KBl9<\/a> pic.twitter.com\/zJALFySz0W<\/a><\/p>\n

\u2014 Financial Times (@FT) October 1, 2025<\/a><\/p>\n\n

Currently, nearly $300 billion worth of stablecoins are in circulation globally with popular options including Tether\u2019s USDT and Circle\u2019s USDC.\u00a0<\/span><\/p>\n

EXPLORE:\u00a0Top 20 Crypto to Buy in 2025<\/a><\/strong><\/p>\n

BoE Governor Thinks Banks And Stablecoins Should Co-Exist<\/h2>\n

Widely-used stablecoins need to be regulated like money, BoE’s Bailey says https:\/\/t.co\/epUUtM8Yzd<\/a> pic.twitter.com\/1kNpRmH7ur<\/a><\/p>\n

\u2014 Reuters UK (@ReutersUK) October 1, 2025<\/a><\/p>\n\n

\u201cIt is possible, at least partially, to separate money from credit provision, with banks and stablecoins coexisting and non-banks carrying out more of the credit provision role,\u201d Bank of England Governor explained.<\/span><\/p>\n

Interestingly, Bailey previously was of the opinion that stablecoins couldn\u2019t be a substitute for commercial bank money.<\/span><\/p>\n

Meanwhile, the US has seen rapid developments. Wyoming became the first state to launch a government-backed stable token, while Congress passed\u00a0<\/a>the GENIUS Act, banning stablecoin issuers from paying direct interest.<\/p>\n

EXPLORE:\u00a0The 12+ Hottest Crypto Presales to Buy Right Now<\/a><\/strong><\/p>\n

Is The US\u2013UK Crypto Alliance A Turning Point For Stablecoin Regulation?<\/h2>\n

The US-UK crypto alliance is heating up, and industry insiders expect stablecoins to take centre stage. According to a Financial Times report\u00a0published\u00a0<\/a>on September 16, 2025, this development occurred following a meeting between US Treasury Secretary Scott Bessant and Chancellor Rachel Reeves. Prominent firms such as Coinbase, Circle, and Ripple, along with banking giants including Citi, Bank of America, and Barclays, also attended the talks held in London.<\/p>\n

It appears that the syncing of the US-UK capital markets hinges on stablecoins. According to the report, British officials see regulatory alignment with the US as a means for UK firms to access deeper capital markets and secure fresh American investments.<\/p>\n

Read More: US-UK Crypto Alliance Heats UP With Stablecoins As Its Linchpin<\/a><\/strong><\/p>\n

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Key Takeaways<\/h2>\n


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\n Bailey\u2019s evolving stance on stablecoins reflects the broader recognition that digital assets are here to stay and could play an important role in the future of finance.\u00a0<\/span><\/p>\n


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\n Bailey emphasized that stablecoins require careful regulatory oversight to ensure they truly live up to their \u201cstable\u201d promise.<\/span><\/p>\n


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The post Bank of England Governor Signals Major Shift on Stablecoins: Could Transform UK\u2019s Financial System<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Andrew Bailey, the Bank of England (BoE) Governor has dramatically softened his stance on stabelcoins. Talking to the Financial Times on 1 October 2025, Bailey said that it would be\u00a0 \u201cwrong to be against stablecoins as a matter of principle.\u201d Stablecoins are digital tokens designed to maintain a stable value by being pegged to traditional […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-101361","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/101361"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=101361"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/101361\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=101361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=101361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=101361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}