BoE says stablecoins must be as trustworthy as commercial bank money
Stablecoins may require tailored regulation and access to emergency liquidity facilities, paper says
The Bank of England says stablecoins must attain similar levels of “public confidence” as commercial bank money if they are to serve as a new form of digital money.
Certain “key features” of the banking system would need to be reflected in regulations for stablecoins, the BoE says in a discussion paper, published today (June 7). This would need to include a legal claim, capital and liquidity requirements, access to emergency liquidity from the central bank, and some form of depositor protection
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