BoE and Treasury’s ‘productive tension’ over stablecoins
Experts say Reeves’s bullishness and Bailey’s more bearish stance on assets may be all to the good
When the UK’s chief finance minister, Rachel Reeves, delivered her second speech to the City of London’s Mansion House on July 15, she sounded bullish about stablecoins. The chancellor of the exchequer said the Treasury would “drive forward developments in blockchain technology, including tokenised securities and stablecoin”, before adding that she would be “rolling back regulation that has gone too far in seeking to eliminate risk”.
However, the Bank of England governor, speaking at the same
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