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BOE’s warning on wholesale stablecoins requires deeper analysis, UK Finance says

( November 5, 2024, 13:49 GMT | Official Statement) -- MLex Summary: The Bank of England’s claim that wholesale stablecoins present significant financial stability risks requires deeper analysis, the industry group UK Finance has said. The BOE made the comment in a July discussion paper on innovation in payments. UK Finance said checks and balances could help to mitigate the risks. Stablecoins offer potential for innovation and faster transaction times, and could improve financial crime monitoring, the group added in their response to the paper. ...

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