Bank of England Releases Discussion Paper on Stablecoins, CBDC
The paper focuses on the effects of private stablecoins on the cost and availability of lending and the challenges for monetary policy.
Global stablecoins "may bring risks and challenges to the international monetary system," said PBOC's Fan Yifei.
Cryptocurrencies are "speculative assets rather than money" used in many cases to facilitate financial crime, the central bank organization said.
Rakiya Mohammed, the bank's information technology director, revealed the date during a private webinar on Thursday.
The president's speech follows El Salvador's adoption of bitcoin as legal tender.
If the BCRA confirms its suspicions, it will initiate criminal complaints against the companies.