Bank of England says regulators must keep ahead of stablecoins – Reuters

LONDON, Sept 3 (Reuters) – Financial regulators must avoid playing catch up with digital payments methods like stablecoins and crypto-assets, Bank of England Governor Andrew Bailey said on Thursday.

“If stablecoins are to be widely used as a means of payment, they must have equivalent standards to those that are in place today for other forms of payment types and the forms of money transferred through them,” Bailey said in a speech to the Brookings Institute. (Reporting by Huw Jones; editing by Tom Wilson)