BIS speech on stablecoins is slightly more constructive. Adoption skepticism persists
BIS General Manager Pablo Hernández de Cos used a seminar at the Bank of Japan today to deliver a broad assessment of stablecoins, covering their potential utility, structural weaknesses and macro-financial risks.
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At a Bank of Japan seminar, BIS General Manager Pablo Hernández de Cos floated deposit-insurance-style arrangements and central-bank liquidity backstops for stablecoins, a notable softening from the BIS's earlier 'unsound money' verdict.
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