BoE warns against use of stablecoins in banking

Tokenised payment systems pose compliance and systemic risks, regulator says

Bank of England

A week after setting out a supervisory regime for stablecoins, the UK’s central bank has expressed concerns about unregulated versions being used as a payment option in banking.

Matthew Osborne, senior manager for payments policy at the Bank of England, said there were “numerous problems” with banks accepting stablecoins for payments. These included the lack of settlement finality and the absence of a governing entity for public, permissionless blockchains.

“All these are red flags from the

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