Bailey urges early intervention on stablecoin risks
BoE governor says multi-currency stablecoins do not appear to be viable payment systems at present
It was likely that public and private forms of digital currency would co-exist in future, so standard-setters needed to act now to ensure stablecoins were fit for task, Bank of England governor Andrew Bailey said in a a speech today (September 3).
He said there would “likely be a role for the private and public sector working together in the future of payments”. Bailey acknowledged stablecoins could bring benefits such as reduced frictions in the global payments network.
But he also said some
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com