PANews reported on April 16th, citing Cryptopolitan, that Andrew Bailey, Governor of the Bank of England and Chairman of the Financial Stability Committee, called for the establishment of globally unified regulatory standards for stablecoins. Speaking at an event hosted by the Institute of International Finance, he stated that progress in developing international standards for stablecoins has slowed over the past year, while these tokens are becoming increasingly integrated into the global financial system. Bailey pointed out that stablecoins only function effectively if users trust that they can be redeemed at face value at any time, and that different countries should not have different regulatory rules.

His call comes as the UK and the US push forward with their respective regulatory frameworks. The US Treasury Department has issued a notice of proposed rulemaking requiring stablecoin issuers to comply with stringent anti-money laundering and sanctions compliance standards once the GENIUS Act fully takes effect in January 2027. Meanwhile, South Korean lawmakers and central bank officials are engaged in heated debate over whether technology companies should be allowed to issue stablecoins.