Andrew Bailey, Governor of the Bank of England and Chair of the Financial Stability Board (FSB), stated at the Institute of International Finance (IIF) event that global progress on international regulatory standards for stablecoins has slowed over the past year. However, to achieve a credible foundation for stablecoins to be 'redeemable at face value,' unified international rules must be established to avoid regulatory fragmentation across countries leading to an expansion of 'regulatory gaps.' (Cryptopolitan) (wublock123.com)/news/news-59627