TechFlow, July 4 — According to Bloomberg, Andrew Bailey, Governor of the Bank of England, recently issued a warning that the rise of stablecoins could undermine public trust in money. He specifically highlighted experts' concerns about the risks posed by the expanded use of dollar-backed cryptocurrencies.
In a speech released on Thursday, Bailey emphasized that central banks need to "closely monitor" new vulnerabilities that payment innovations might introduce into the monetary system.
Add to Favorites
Share to Social Media
