BoE says stablecoins must be as trustworthy as commercial bank money

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The Bank of England says stablecoins must attain similar levels of “public confidence” as commercial bank money if they are to serve as a new form of digital money.

Certain “key features” of the banking system would need to be reflected in regulations for stablecoins, the BoE says in a discussion paper, published today (June 7). This would need to include a legal claim, capital and liquidity requirements, access to emergency liquidity from the central bank, and some form of depositor protection

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