Financial Services Financial Services

No stablecoin in operation now would meet future UK regulatory standards, BOE warns

By Phoebe Seers
  • 12 Jul 2022 13:39
  • 12 Jul 2022 13:48
The Bank of England has cast doubt on the ability of any existing stablecoin provider to meet the regulatory standards it plans to introduce. 

The UK government has committed to legalizing stablecoins, a form of cryptoasset that are typically pegged to a fiat currency such as the dollar. But the BOE’

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Phoebe Seers


Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

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