BoE Governor Bailey Wants Fraud Crackdown Handed to London Police

Bailey's intervention signals that the UK's current fraud enforcement split — spread across regulators and agencies — is seen at the top of the central bank as inadequate. For crypto and RWA firms, the practical question is whether fraud enforcement becomes a policing matter rather than a regulatory one, which would shift how cases involving tokenized assets and payment rails are handled. No mechanism or timeline was offered, so whether this becomes an actual transfer of responsibility, and to whom the boundary with existing regulators falls, is the open question.