Bank of England Deputy Governor Broadbent: Weakening stablecoin regulation poses risks

Jinse Finance reported that Bank of England Deputy Governor Breeden stated that more work needs to be done to guide consumers in identifying unsafe tokens issued by El Salvador. Previous incidents involving Silicon Valley Bank and Circle withdrawals have provided guidance for the latest stablecoin proposals. Weakening stablecoin regulation poses risks. The UK needs to take a different approach from the US on stablecoin issues.