Bank of England Governor Andrew Bailey has emphasized the necessity for regulatory standards for stablecoins, asserting that they require a 'high bar' due to their essential payment functions. During recent statements, he expressed concerns regarding the rise of multi-manager hedge funds, which he believes pose a threat to financial stability due to correlated activities and aggressive risk management strategies that could lead to rapid market exits during shocks. Bailey also noted that the Bank of England is still exploring the implementation of a central bank digital currency (CBDC). He cautioned against the potential risks of deregulation, arguing that there is 'no trade-off' between economic growth and financial stability, and highlighted the need to investigate private credit as a potential area of concern.