PANews reported on September 19th that according to Cointelegraph, the Bank of Canada has called for the establishment of a stablecoin regulatory framework to modernize the payment system and avoid lagging behind other countries in promoting related policies. On Thursday, Ron Morrow, Executive Director of Payments and Other Affairs at the Bank of Canada, gave a speech at the Chartered Professional Accountants Conference in Ottawa, saying: "Even if you are on the right track, stagnation will be surpassed. For stablecoins to be considered currency, they must be as safe and stable as bank account balances. Governments are strengthening their regulation of cryptocurrencies such as stablecoins to benefit consumers and avoid credit and liquidity risks. In fact, many jurisdictions around the world have already introduced or are about to introduce regulatory frameworks for crypto assets."PANews reported on September 19th that according to Cointelegraph, the Bank of Canada has called for the establishment of a stablecoin regulatory framework to modernize the payment system and avoid lagging behind other countries in promoting related policies. On Thursday, Ron Morrow, Executive Director of Payments and Other Affairs at the Bank of Canada, gave a speech at the Chartered Professional Accountants Conference in Ottawa, saying: "Even if you are on the right track, stagnation will be surpassed. For stablecoins to be considered currency, they must be as safe and stable as bank account balances. Governments are strengthening their regulation of cryptocurrencies such as stablecoins to benefit consumers and avoid credit and liquidity risks. In fact, many jurisdictions around the world have already introduced or are about to introduce regulatory frameworks for crypto assets."
The Bank of Canada has called on the country to establish a stablecoin framework to avoid falling behind other countries.
PANews reported on September 19th that according to Cointelegraph, the Bank of Canada has called for the establishment of a stablecoin regulatory framework to modernize the payment system and avoid lagging behind other countries in promoting related policies. On Thursday, Ron Morrow, Executive Director of Payments and Other Affairs at the Bank of Canada, gave a speech at the Chartered Professional Accountants Conference in Ottawa, saying: "Even if you are on the right track, stagnation will be surpassed. For stablecoins to be considered currency, they must be as safe and stable as bank account balances. Governments are strengthening their regulation of cryptocurrencies such as stablecoins to benefit consumers and avoid credit and liquidity risks. In fact, many jurisdictions around the world have already introduced or are about to introduce regulatory frameworks for crypto assets."
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