Governor Andrew Bailey of the Bank of England has publicly opposed the issuance of stablecoins by major banks, citing concerns over financial stability. In a Bloomberg report, Bailey articulated his preference for tokenized deposits, arguing they would better maintain banks' lending capacity. He fears that widespread adoption of bank-issued stablecoins could create new avenues for bank runs and exacerbate money laundering risks. The Governor emphasized that the UK is not actively pursuing a central bank digital currency (CBDC), signaling a cautious approach to digital assets. This stance underscores the Bank of England's focus on mitigating potential risks within the evolving cryptocurrency landscape and maintaining control over the monetary system. The future of digital currencies in the UK remains uncertain. ```

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