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No stablecoin in operation now would meet future UK regulatory standards, BOE warns

By Phoebe Seers ( July 12, 2022, 12:39 GMT | Insight) -- The Bank of England has cast doubt on the ability of any existing stablecoin provider to meet the regulatory standards it plans to introduce. Deputy governor Jon Cunliffe said that if a stablecoin is being used as a means of money, it must be as safe as the other forms of money, meaning that it can be redeemed within the day and at par to central or commercial bank money. The Bank of England has cast doubt on the ability of any existing stablecoin provider to meet the regulatory standards it plans to introduce. ...

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