Bank of England Governor Warns of 'Wrestle' with U.S. Over Stablecoin Rules

May 10, 2026

Bank of England Governor Andrew Bailey warned on May 10, 2026 that international regulators face a coming wrestle with the United States over stablecoin rules. Bailey flagged stablecoin run risk for the UK as U.S. lawmakers advance their own framework while the United Kingdom builds out its own regime. The Bank of England sees stablecoins as a potential threat to financial stability.

International stablecoin regulation

▪Bank of England Governor Andrew Bailey expected there to be a wrestle between the United States and international regulators on the treatment of stablecoins.
▪The United Kingdom is building out its own stablecoin regime as of May 2026.
▪Bank of England Governor Andrew Bailey warned on May 10, 2026 that international regulators face a coming wrestle with the United States over stablecoin rules.
▪U.S. lawmakers are working on stablecoin legislation as of May 2026.

Financial stability concerns

▪Bank of England Governor Andrew Bailey sees stablecoins as a potential threat to financial stability.
▪Bank of England Governor Andrew Bailey flagged run risk for the UK related to stablecoins.

Perspective of Bank of England

▪The Bank of England sees stablecoins as a potential threat to financial stability in the United Kingdom.
▪The Bank of England flagged run risk for the UK related to stablecoins amid divergent international regulatory approaches.