Bank of England Deputy Governor Briden: Weakening stablecoin regulation carries risks.

Jon Cunliffe, Deputy Governor of the Bank of England, said that we need to do more work to guide consumers in identifying the unsafe tokens issued by El Salvador. Previous incidents involving Silicon Valley Bank and Circle withdrawals provide guidance for the latest stablecoin proposals. Weakening stablecoin regulation poses risks. The UK needs to take a different approach to stablecoin issues than the United States.