Bank of England Treating Stablecoins as 'New Form of Money', Says Exec
60-second summary
The Bank of England is treating stablecoins as a new form of money, according to Sasha Mills, an executive. This stance suggests a shift in the central bank's approach to digital assets, not favoring specific tokens. The move could have significant implications for the UK's financial landscape, potentially paving the way for greater adoption of stablecoins in everyday transactions.
The U.K.’s central bank is “not picking winners” in the debate over tokenized deposits and stablecoins, Sasha Mills said Wednesday.