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Bank of England Warns: Stablecoins Threaten Public Trust in Traditional Money
Bank of England Warns: Stablecoins Threaten Public Trust in Traditional Money
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Stablecoins—the crypto world's answer to dollar pegs—just got a scarlet letter from the Old Lady of Threadneedle Street. The BoE's latest salvo claims these digital tokens could erode confidence in fiat currencies. Cue the institutional pearl-clutching.
Behind the fear? A shadow monetary system operating outside central bank control. Never mind that stablecoins process transactions faster than legacy rails at a fraction of the cost—apparently that's a bug, not a feature.
The irony? This comes from an institution that oversaw 14% annual inflation just three years ago. Maybe worry less about blockchain and more about your balance sheets, gents.
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