Stable coins should meet the same regulations as Real Money, Bank of England
![Am 12. April erklärte Andrew Bailey, Gouverneur der Bank of England, während einer Pressekonferenz im Institute of International Finance in Washington, dass Stablecoins genauso reguliert werden sollten wie Fiat-Geld. Laut Bailey fehlt Stablecoins ein „zugesicherter Wert“, eines der Hauptmerkmale, nach denen Menschen suchen, wenn sie in diese Art von „digitalem Geld“ investieren, das Fiat ähneln soll. Er argumentiert, dass sich das Land aus diesem Grund darauf konzentrieren muss, einen angemessenen, strengen Regulierungsrahmen zu schaffen – ganz ähnlich wie bei traditionellen Finanzprodukten: „Wie wir gesehen haben, sie [the stablecoins] haben keinen gesicherten Wert, und in der Arbeit, die wir bei der …](https://krypto-news.at/cache/images/Viele-Stablecoins-erfuellen-moeglicherweise-nicht-die-Standards-der-Crypto-Asset-1100.webp)
Stable coins should meet the same regulations as Real Money, Bank of England
On April 12, Andrew Bailey, Governor of the Bank of England, said during a press conference at the Institute of International Finance in Washington that stable coins should be regulated as well as Fiat money.
According to Bailey, stablecoins lack a "guaranteed value", one of the main characteristics that people are looking for if they invest in this type of "digital money" that is supposed to resemble Fiat. For this reason, he argues that the country has to focus on creating an appropriate, strict regulatory framework - similar to traditional financial products:
"As we have seen, you [The StableCoins] have no secure value, and in the work we have done at the Bank of England, we came to the conclusion that the public should expect a secure value of digital money, and trust is necessary to support financial stability."
Are token real money?
Andrew Bailey warned that stable coins have to fulfill the same properties and regulations as real money in order to function properly as such. This situation has not yet occurred with a stable coin.
In addition, he pointed out that the supervisory authorities should consider all adequate liquidity buffers in order to react to a banking crisis or a banking tower, as has recently been affected by Silicon Valley Bank.
The Bank of England is currently pursuing the development of digital money in order to conclude the possibility of issuing a digital currency of the central bank (CBDC). Digital money has existed for decades, but the technology used for its administration has changed. Blockchain offers a decentralized, verifiable way to transfer money more efficiently, but centralization is the standard for legal, geopolitical and ultimately practical reasons.
Bailey explained, although digital money should not only exist in the form of CBDCs, it is probably necessary to “create an anchor for the value of all forms of money, including new digital, and to ensure the maximum chance of innovations in payment services.”
supervisory authorities vs. stablecoins
As reported by cryptopotato , the regulatory authorities have been discussing the stable coin regulation for several years, but have not yet agreed on the necessary steps to protect investors. According to Kristin Smith, executive director of the Blockchain Association, this could be because US wax dogs focus more on the illegal use of stable coins such as money laundering or terrorist financing than on their everyday use as digital money.
In addition, she added that cryptocurrencies "are much more transparent than we see in the traditional financial services system". However, she found that the cryptoma market and stable coins have to be appropriately regulated so as not to suppress technological innovations.
On the other hand, Jeremy Allaire, CEO of Circle, recently explained that stable coins should not be regulated by the SEC, since the agency is not qualified to fulfill this role, and it is not in their responsibility, and that there are other storageers in the country better. Circle is the company behind USDC, the second largest stable coin in the world.
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