Andrew Bailey, Governor of the Bank of England and Chair of the Financial Stability Board, has issued a statement, warning banks against issuing their own stablecoins. In a recent interview, Bailey expressed concerns related to the risks of financial stability in digital currency.
Bank of England Warning Against Stablecoins
Andrew Bailey’s comments addressed all the central bankers in the world who have called for stablecoin regulation. He expressed concerns that stablecoins could destabilize the financial system and undermine sovereign…
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