According to Reuters, Andrew Bailey, Governor of the Bank of England and Chair of the Financial Stability Board (FSB), stated that international regulators and the U.S. government might face a 'tug-of-war' over stablecoin regulation. Bailey emphasized that if stablecoins are to become part of the global payment framework, they must adhere to international standards. He expressed concerns that some U.S. stablecoins might not be directly redeemable for dollars without going through crypto exchanges during a crisis. If stablecoins are widely used for cross-border payments, this could shift pressure to jurisdictions like the UK, which plan to implement stricter redemption requirements during a run. https://(wublock123.com)/news/bank-of-england-governor-says-stablecoin-rules-could-trigger-us-eu-tussle-60796