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Bank of England warns of risk of increasing UK stablecoin activity

By Phoebe Seers ( April 9, 2025, 12:43 GMT | Insight) -- The Bank of England has warned that growing use of sterling denominated stablecoins with low quality backing assets could have implications for the UK financial system. A BOE committee dedicated to improving financial stability said that in the past year, both unbacked cryptoasset and stablecoin markets had increased in both size and activity and interconnectedness with the financial system continues to grow.The Bank of England has warned that growing use of sterling denominated stablecoins with low quality backing assets could have implications for the UK financial system....

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