The Basel-based institution said that private digital tokens fall short of the requirements for sound money and urged policymakers to accelerate work on tokenized forms of central bank and commercial bank money.
The Bank for International Settlements (BIS) has warned that stablecoins pose a risk of fragmenting the global financial system. The Basel-based institution asserts that private digital tokens do not meet the necessary requirements for sound money. Consequently, the BIS is…
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