Andrew Bailey, the Governor of the Bank of England, has been criticized for making unnecessary "provocative" remarks about stablecoins.

[UK Central Bank Governor Andrew Bailey criticized for unnecessary “provocative” remarks on stablecoins] Mintable CEO Zach Burks recently commented that UK Central Bank Governor Andrew Bailey's “unnecessary provocative” remarks on stablecoins are a matter of “playing politics.” In an interview, Burks stated that stablecoins do not pose a risk to the global financial system. He pointed out that almost all stablecoins have a “blacklist function” that can freeze funds stolen by hackers; moreover, most stablecoins are operated by publicly listed companies or regulated institutions, which are “already subject to relevant legal constraints.” According to Burks, the reason Bailey and the Bank of England deliberately criticize stablecoins is that “stablecoins threaten the viability of Central Bank Digital Currencies (CBDC), which is a core part of the Labour Party's 'digital identity' agenda.” He added that this “behavior of spreading panic is intended to influence the initial perception of blockchain technology among those who do not understand it.”