The spectacular demise of the TerraUSD stablecoin along with Luna has opened a window for stablecoin regulation. It appears as though central banks are coming.
A plan released from the Bank of England yesterday said collapsed stablecoin issuers would be put into special administration under BOE control, similar to banks.
A Bloomberg column today urges more regulation.
Today the Fed's Williams is edging into the same debate.
- Digital revolution in payments and money could have implications for central banking
- Role of central banks will remain to supply liquidity and stability but digital currencies could change implementation
- It's 'critical' the Fed understand how digital technologies influence the financial system and policy implementation
