BIS Teams Up With Bank Of England To Monitor Stablecoin Reserves

Quick Summary:

The Bank for International Settlements (BIS) has announced a joint project with the Bank of England aimed at tracking and monitoring stablecoins’ reserves.

However, not all industry stakeholders seem to be satisfied as Tether chief executive Paolo Ardoino alarmed in a recent interview that MiCA regulations on stablecoins, due to excessive cash reserve requirements, could pose systemic risks to banks.

The scrutiny of stablecoin reserves has been a persistent issue within the crypto industry.

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Article Details

Author / Journalist: Sofiya

Category: Crypto

Markets: India

Topics: Teams Up Stablecoin Reserves BIS Monitor Latest News Bank of England News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 17:24:01 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 276 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 21888431

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Main Topics: Crypto

Official Website: bitcoinworld.co.in

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News Last Updated: 12 hours ago

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