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Crypto

BoE governor says countries must not set stablecoin rules separately, urges faster global standards

Bank of England Governor Andrew Bailey said efforts to establish common international standards for stablecoins are moving too slowly and called for alignment of national regulations. He said users must be able to trust that stablecoins can be redeemed in full at any time, describing this as “assured value”, and said international standards are needed to underpin it. His remarks come as the UK and the United States move to build domestic rules, and as debate continues in South Korea.

Crypto

Financial turmoil if alien life confirmed, bitcoin could surge

A former Bank of England analyst said modern financial markets could face unprecedented turmoil if the existence of extraterrestrial life is officially confirmed, potentially driving a surge in demand for cryptocurrencies as safe-haven alternatives. In a reported letter to Governor Andrew Bailey, Helen McCaw warned of extreme volatility, bank runs and payment system disruptions. She said gold could lose value, while bitcoin may gain as a decentralised asset when trust in fiat money falters.