Bank of England exec says digital currencies could be 'important' for central bank balance sheets By samfromvenis
Andrew Hauser, the executive director for markets at the Bank of England, spoke about digital currencies at the Federal Reserve Bank of New York on June 1.
That’s according to Andrew Hauser, executive director for markets at the Bank of England. Hauser made the argument as part of a speech he delivered at the Federal Reserve Bank of New York on Wednesday. Central banks — as the sole issuer of fiat currency — typically control the money supply of a national economy using three main devices: modifying interest rates, regulating commercial banks , and acting as a lender of last resort. Money issued is considered a balance sheet liability, which can be bought back or sold to commercial banks as needed.
Set in the shadow of the TerraUSD stablecoin collapse, Hauser’s speech pointed to the way such systems might be regulated.
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