Stablecoin is another clash in the books for Reeves and Bailey. (Image PA)

A Rachel Reeves and Bank of England clash risks derailing Britain’s stablecoin dream as the country plays catchup in the over £200 market .

The Chancellor referenced plans to drive forward “developments in blockchain technology including… stablecoin” in her 2025 Mansion House speech.

But Reeves faces an obstacle to push her plans in the form of the Bank of England.

The central bank has been criticised for its “prescriptive” rules that risk “killing” London’s potential to become a global hub for stablecoins.

The bank’s governor Andrew Bailey told MPs he would “question” the need “to introduce a new form of money”.

Whilst he has not directly rejected stablecoins he said in a Treasury Select Committee heari

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