PANews reported on July 3 that according to Bloomberg, Bank of England Governor Andrew Bailey warned that the rise of stablecoins could undermine public trust in currency as experts warnedPANews reported on July 3 that according to Bloomberg, Bank of England Governor Andrew Bailey warned that the rise of stablecoins could undermine public trust in currency as experts warned
Bank of England Governor Warns: Stablecoins Threaten Public Trust in Money
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PANews reported on July 3 that according to Bloomberg, Bank of England Governor Andrew Bailey warned that the rise of stablecoins could undermine public trust in currency as experts warned of the threat posed by the large-scale application of cryptocurrencies backed by the US dollar.
In a speech published on Thursday, Bailey said central banks needed to "keep a close eye" on innovations in payments to prevent them from introducing new vulnerabilities into the monetary system.
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