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Bank of England Will Open Systemic Stablecoin Applications by Year-End
Bank of England Executive Director Sasha Mills said the central bank will open applications for systemic stablecoins by year-end. Sasha Mills said the Bank of England views stablecoins as a new form of money and will regulate payment stablecoins that could threaten financial stability. Financial Conduct Authority Director Matthew Long said other stablecoins remain under FCA oversight and that sterling-denominated stablecoins still have room to play a role.