The Governor of the Bank of England has been nominated to lead the G20 Crypto Assets regulatory body, FSB.

On April 8, the Governor of the Bank of England, Andrew Bailey, was nominated to serve as the next Chair of the Financial Stability Board (FSB) of the G20. The FSB Nomination Committee agreed that Andrew Bailey will take up the position from early July for a term of three years. The G20 has tasked the FSB with coordinating the development of an encryption asset regulatory framework. Previously, in July 2023, the FSB finalized its regulatory recommendations for encryption assets and global stable CEXs. Andrew Bailey currently serves as the Chair of the FSB's Standing Committee on Supervisory Cooperation. During his tenure, Andrew Bailey is responsible for overseeing the development of the global regulatory framework for FSB's encryption asset activities and the implementation roadmap for encryption assets.