FSB Warns on Emerging Threats from Stablecoins, Private Finance

Bank of England Governor Andrew Bailey has vowed to intensify the global policy response to emerging threats from private finance and the growing use of stablecoins.

In an address to the Group of 20 nations as chair of the Financial Stability Board, Bailey promised an overhaul that would make the FSB’s surveillance “more flexible and quicker to recognise, and respond to, emerging vulnerabilities.”