Deep Tide TechFlow news: On May 14, according to a report by Decrypt, the Bank of England said it views stablecoins as “a new type of currency” and plans to open applications for the issuance of “systemic stablecoins” in the UK by the end of this year. Bank of England Executive Director Sasha Mills said that regulators are “not taking sides” in the debate between tokenized deposits and stablecoins, and it is currently not possible to determine which new type of currency is better suited to specific application scenarios. The Bank of England will oversee systemic stablecoins that are widely used for payments and could affect UK financial stability, while stablecoins used in retail or corporate payments with a limited scope will be regulated by the Financial Conduct Authority (FCA).

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