Bank of England Governor and Financial Stability Board (FSB) Chair Andrew Bailey said at an event hosted by the Institute of International Finance (IIF) that, over the past year, global progress on international regulatory standards for stablecoins has slowed. However, for stablecoins to achieve a credible foundation for “redemption at par value,” a unified set of international rules must be established to prevent regulatory fragmentation among countries from further widening “rule gaps.” (Cryptopolitan)