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23.11.2021

BoE's governor Bailey: I'm skeptical that stablecoins will evolve into safe, regulated money-like features

Bank of England's (BoE) governor Andrew Bailey told Britain's lawmakers on Tuesday that he was skeptical that stablecoins would evolve into money-like features, which could be regulated.

He also added that the central bank currencies of digital form were a more likely future for electronic payments.

Bailey also noted that the BoE does not regard the crypto assets as direct financial stability issues but they are potential threats.

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