Bank of England Governor Bailey: Stablecoins Are Not Robust and Do Not Meet the Standards of Safe Money

Bank of England Governor Bailey says cash will still exist despite the advent of digital currencies. Stablecoins are not robust and do not meet the criteria of a safe currency. Our work on retail central bank digital currencies does not change our commitment to physical currencies. The main motivation for launching a retail central bank digital currency is to ensure that the public has central bank money that they can use in their daily lives. Bitcoin-type cryptocurrencies are best viewed as highly speculative assets.

Bank of England Central Bank Digital Currency

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