Published by Global Banking & Finance Review®
Posted on April 15, 2026
2 min readLast updated: April 15, 2026
Add as preferred source on GoogleBoE Governor and FSB Chair Andrew Bailey said at the IMF’s Spring Meetings that progress on global standards for stablecoins has notably slowed over the past year, raising concerns about “assured value” and potential regulatory arbitrage.
WASHINGTON, April 15 (Reuters) - Bank of England Governor Andrew Bailey said on Wednesday that progress on establishing international standards for so-called stablecoins, cryptoassets which are pegged to a fiat currency such as the dollar, had slowed over the last year.
Bailey, who also chairs the Financial Stability Board, commented on the timing of global standards in the context of his concerns about "assured value", the confidence that a stablecoin can always be redeemed at face value, on the sidelines of the International Monetary Fund’s Spring Meetings.
"We do have to have international standards to it to underpin assured value. I don't think we can have a situation where we've got different rules of engagement in different countries for that," Bailey said at an event hosted by the Institute of International Finance.
Britain and the United States are among major economies pressing ahead with domestic rules for stablecoins as policymakers seek to capitalise on the technology, while guarding against financial stability risks.
International standards are seen as critical to preventing so-called regulatory arbitrage, where financial firms seek out the jurisdiction with the least onerous rules.
(Reporting by William Schomberg in Washington and Phoebe Seers in London; Editing by Tommy Reggiori Wilkes and Alexander Smith)
Andrew Bailey stated that progress on international stablecoin standards has slowed and emphasized the need for global regulatory consistency.
International standards help ensure assured value and prevent regulatory arbitrage where firms seek the most lenient rules.
Bailey was concerned about 'assured value,' meaning the confidence in a stablecoin's ability to always be redeemed at face value.
Britain and the United States are developing domestic rules for stablecoins to leverage the technology while managing financial stability risks.
Bailey made his comments at the IMF’s Spring Meetings, also addressing the risk of fragmented rules across countries.
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