Bank of England Open to the Use of Stablecoins for Wholesale Payments
Odaily Planet Daily News: The Bank of England has taken a forward-looking stance on digital innovation this week. Its Executive Director, Sasha Mills, stated that the bank is “open” to the use of stablecoins for wholesale payments, which contrasts with last week’s report from the Bank for International Settlements that labeled stablecoins as “unreliable currencies.” Mills emphasized that financial stability remains the top priority, but after legal revisions, the central bank must also balance innovation, and its regulatory approach will become more balanced. As reported yesterday, the Governor of the Bank of England warned that stablecoins pose a threat to public trust in money. (Ledger Insights)
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