Bank of England, Andrew Billy, recently warned of banks that issued Stablecoins, saying that the Bank of England should focus on symbolic deposits instead.
In an interview, InedCoins Bank officials provides regular risks to banking institutions that could destabilize the entire financial system, causing sovereign governments to lose control of their currencies, said the Sanadai Times official in an interview.
He also added that the Central Bank of the United Kingdom should not adopt a central bank’s digital currency (CBDC) or seeks to launch a digital digital code managed by centrality.
Billy is the new head of the Financial Mervice Council (FSB), and he is an international financial organizer, indicating that he will collide with the spread of Stablecoins during his presence on his head.
Stablecoins is one of the largest sectors in encryption and can help increase the vocabulary of the Fiat currencies by bringing the payment bars on ONChain, which avoids the need for a strong bank infrastructure to transport money across the border, thus entering access to major currencies such as the US dollar, euro, and Japanese euros,
Related to: Shanghai officials are warm to Stablecoins despite the ban on Chinese encryption: Report
The United States goes to Stablecoins under Trump’s management
The Trump administration has repeatedly said that creating comprehensive comprehensive regulations in the United States is a top priority.
Speaking at the White House digital assets summit in March, US Treasury Secretary Scott Bessin said that Stablecoins will extend the dominance of the US dollar, ensuring that the dollar is still the global backup currency.
https://www.youtube.com/watch?
Excessive exporters in the foreground return to digital symbols in banking institutions in banking institutions or short -term American treasury bills, which are very liquid.
By allowing companies to classify American debt tools, the administration can reduce some inflationary pressure on the dollar by spreading the demand for American debt tools for anyone with a mobile phone and encryption wallet.
Federal Reserve Chairman Jerome Powell also expressed his support for the idea and called for coherent stablecoin policies in the United States.
However, its European counterparts have repeatedly appeared to a warning to Stablecoin’s plans for the United States, and they warned that Stablecoins from the dollar posed a threat to the European Union’s financial system and could completely replace the euro.
magazine: UNSTABLECOINS: Depeging, Bank running, and other risks waving on the horizon
