Digital currencies pose threat to economy, warns Bank of England
Jun 07, 2021
3 minutes
The rise of digital currencies could lead to a flood of withdrawals from high street banks, risking financial stability and the wider economy, the Bank of England has warned.
Threadneedle Street said that stablecoins – a new form of digital asset usually pegged to the value of a traditional currency – would need to be regulated in the same way as payments handled by banks if they became widely available.
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