Bank of England Governor Andrew Bailey said in a July 14 speech that the global tariff war could redirect trade flows and leave the UK facing excess supply, a shift that may push down goods prices. In the same remarks, Bailey said tokenization is important to the transformation of financial infrastructure.
He also drew a distinction between the risks posed by unsupported assets such as Bitcoin and backed instruments such as stablecoins, saying the former carry higher risk. The speech points to the Bank of England’s current approach to digital assets: using regulatory innovation to bring them into the financial system while keeping its attention on payment-system modernization.
The remarks were cited by CryptoBriefing and relayed by Techub.
Bank of England Governor Andrew Bailey said in a July 14 speech that the global tariff war could lead to trade diversion, leaving the UK with excess supply and putting downward pressure on goods prices.
Bailey also said tokenization is important to the transformation of financial infrastructure. He drew a distinction between unsupported assets such as Bitcoin and backed instruments such as stablecoins, saying the former carry higher risk.
The speech suggests the Bank of England is using regulatory innovation to bring digital assets into the financial system, with a focus on modernizing payment systems. The remarks were cited by CryptoBriefing and relayed by Techub.
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