Bank of England to accept systemic stablecoin applications this year

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The Bank of England said it will begin accepting applications this year for firms seeking to issue systemic stablecoins for widespread payments in the UK. Sasha Mills said the central bank will distinguish between stablecoins used for widespread payments and those used for other retail and corporate purposes. UK authorities are also expected to finalize the country’s stablecoin framework by the end of the year.

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