On May 10, Andrew Bailey, Governor of the Bank of England, stated at a financial imbalance conference that for stablecoins to become part of the global payment system, international unified standards must be established, which will create a direct competition with the Trump administration. Bailey also expressed concerns that some US stablecoins cannot be directly exchanged for dollars during a crisis and must go through cryptocurrency exchanges, posing liquidity risks. He warned that once a run on stablecoins occurs, funds will flood into jurisdictions like the UK that have mandatory convertibility obligations. Bailey currently serves as the chair of the Financial Stability Board (FSB) and has maintained a cautious stance on cryptocurrencies.
Welcome Back
Click “Sign in” to agree to Cointime’s Terms of Service and acknowledge that Cointime’s Privacy Policy applies to you.
Join CoinTime
Already have an account?
Click “page.Sign up” to agree to Cointime’s <a class="underline" href="#term-of-service">Terms of Service</a> and acknowledge that Cointime’s a class="underline" href="#privacy-policy">Privacy Policy</a> applies to you.
Sign in with email
Sign up with email
Your email
Check your inbox
Click the link we sent to to sign in.
Click the link we sent to to sign up.
Bank of England Governor Bailey: Stablecoin Regulation May Trigger Competition Between US and International Regulators
-
Wechat scan to share
Recommended for you
-
Sources: U.S. Prepares New Military Strikes Against Iran, No Final Decision Yet
On May 23, sources revealed that despite ongoing diplomatic efforts, the Trump administration is preparing for a new round of military strikes against Iran. As of the afternoon, no final decision had been made regarding whether to proceed with the strikes. Trump stated on social media that due to 'special circumstances related to government affairs,' he would be unable to attend his son Donald Trump's wedding this weekend. He had originally planned to vacation at his private golf club in New Jersey over Memorial Day weekend but has now decided to return to the White House. According to multiple sources, in light of the potential military action, some personnel in the U.S. military and intelligence community have canceled their planned Memorial Day weekend leave. Defense and intelligence officials have begun updating the emergency recall lists for U.S. military bases overseas. Meanwhile, some U.S. troops stationed in the Middle East are being rotated out of the combat zone in phases. (CCTV News) -
New Fed Chair Waller: Leading a Reform-Oriented Federal Reserve
On May 23, Waller was sworn in as the 17th Chair of the Federal Reserve at the White House on Friday. Waller stated, "The mission of the Federal Reserve is to promote price stability and full employment." He said, "When these goals are pursued with wisdom and clarity of thought, independence and determination, inflation can be reduced, economic growth can be stronger, real wages can be higher, and America can be more prosperous. Equally important, America's position in the world will be more secure." He added, "To fulfill this mission, I will lead a reform-oriented Federal Reserve, learning from past successes and mistakes, breaking free from static frameworks and models, while upholding clear standards of integrity and performance." -
US New Strategic Bitcoin Reserve Bill Abandons '1 Million BTC' Purchase Target, Plans to Lock Held BTC for 20 Years
On May 23, the U.S. House of Representatives introduced a new bipartisan bill, the 'American Reserve Modernization Act of 2026' (ARMA), which aims to include Bitcoin held by the U.S. government in its strategic reserves, requiring a lock-in period of at least 20 years. Unlike the previously proposed BITCOIN Act, the new bill no longer mandates the U.S. government to purchase 1 million BTC; instead, it focuses on incorporating Bitcoin already held or acquired in the future through criminal and civil forfeiture into the reserves. Additionally, the bill will establish an independent digital asset inventory to manage non-Bitcoin cryptocurrency assets held by the federal government. According to the draft, Bitcoin entering the strategic reserves cannot be sold, exchanged, auctioned, mortgaged, or otherwise disposed of for 20 years. After the lock-in period, the Secretary of the Treasury may propose selling up to 10% of the reserve assets within any two-year period. The bill also requires the government to publicly disclose reserve proof quarterly and conduct third-party audits of Bitcoin holdings. Supporters argue that the U.S. should not sell strategic digital assets but should hold them as part of a modernized national reserve system. -
US SEC Delays Opening of Tokenized Stock Trading
On May 23, Bloomberg reported that the US SEC has postponed plans to allow tokenized stock trading due to regulatory concerns and external opposition. The report states that the SEC is currently reassessing the associated risks and market impacts. -
BTC Falls Below $76,000
Market data shows that BTC has fallen below $76,000, currently priced at $75,997.97, with a 24-hour decline of 2.28%. The market is experiencing significant volatility, so please ensure proper risk management. -
Traders Fully Anticipate 25 Basis Point Rate Hike by Fed by End of 2026
On May 22, market pricing indicated that traders have fully anticipated a 25 basis point rate hike by the Federal Reserve by the end of 2026. In related news, Fed Governor Waller stated that the Federal Reserve should not signal any further rate cuts and should remain inactive in the short term. -
Spot Gold and New York Futures Gold Both Fall Below $4500
On May 22, spot gold and New York futures gold both fell below $4500 per ounce, declining by 0.94% during the day. Traders have fully priced in a 25 basis point interest rate hike by the Federal Reserve by the end of 2026. -
BTC Falls Below $77,000
Market data shows that BTC has fallen below $77,000, currently priced at $76,977.52, with a 24-hour decline of 0.18%. The market is experiencing significant volatility, so please ensure proper risk management. -
Fed Governor Waller: Inflation Risks Mean Fed Should Not Signal Further Rate Cuts
On May 22, Federal Reserve Governor Waller stated on Friday that, given the increasing risks of inflation, the Fed should not consider further rate cuts as a default plan. Earlier this year in January, Waller had supported rate cuts. In his speech, he noted that the ongoing conflicts in the Middle East and rising costs of oil and other commodities are increasingly likely to trigger broader persistent inflation in the economy. He emphasized that it is time for the Fed to stop signaling that the next action is likely to be another rate cut. Waller indicated that maintaining interest rates in the current range of 3.5% to 3.75% is likely the correct approach for the foreseeable future. He added, 'If inflation does not subside quickly, I cannot rule out the possibility of future rate hikes.' Waller stated that he now agrees with the view that the Fed should clearly indicate that its next rate adjustment could be either a cut or a hike. -
Tiger Brokers Fined 308.1 Million Yuan for Illegal Cross-Border Securities Activities in China
On May 22, Up Fintech Holding Limited (formerly Tiger Brokers) announced that on May 22, 2026, some of its subsidiaries received a notice from the Beijing Regulatory Bureau of the China Securities Regulatory Commission (CSRC). The notice indicated that the CSRC's Beijing Regulatory Bureau had launched an investigation into the subsidiaries for suspected illegal activities related to securities, funds, and futures business. The investigation found that these subsidiaries engaged in unlicensed cross-border securities activities and illegal fund and futures-related activities in mainland China. Based on the investigation results, the CSRC's Beijing Regulatory Bureau imposed a total administrative penalty of approximately 308.1 million yuan and confiscated illegal gains totaling about 103.1 million yuan. Mr. Wu Tianhua, the company's director, CEO, and actual controller, also received a warning and was fined 1.25 million yuan. As of the end of 2025, retail customer assets in mainland China accounted for about 10% of the company's total customer assets in the consolidated financial statements.
Daily Must-Read
-
USDC vs USDT: Stablecoins Second Half, Victory Determined on the Perpetual Contract Track
-
A16z Crypto Deep Interpretation: The Ultimate Form of Finance is a Digital Reconstruction Based on Blockchain
-
Multiple positive factors resonate, the market is comprehensively repricing HYPE: from DEX leader to global on chain financial infrastructure
-
Faith completely withdraws: ETH's strongest bulls clear their positions and leave, Ethereum's narrative collapses completely
-
On the eve of the tech IPO boom, Polymarket teamed up with Nasdaq to launch a comeback and counterattack
-
The Implementation of the CLARITY Act: Compliance Breaks and Decentralization Tests in the Cryptocurrency Industry
All Comments