Widely-used stablecoins need to be regulated like money, BoE's Bailey says

LONDON (Reuters) -Any stablecoin that becomes widely used as a means of payment in Britain needs to be regulated like money in a standard bank, Bank of England Governor Andrew Bailey said on Wednesday, meaning it would need depositor protections and access to BoE reserve facilities. The comments made in an article in the Financial Times newspaper represent a slight shift in tone by Bailey, a long-standing sceptic of cryptocurrencies. He said it would be "wrong to be against stablecoins as a matter of p ...