China's central bank worried about stablecoins' risk to financial systems

Cointelegraph

Published Jul 08, 2021 03:52AM ET

Updated Jul 08, 2021 05:40AM ET

The Chinese central bank is “quite worried” about the global financial risks associated with digital currencies, particularly stablecoins, according to a senior official.

Fan Yifei, a deputy governor of the People’s Bank of China (PBoC), expressed concerns over the reportedly serious threat stablecoins like Tether (USDT) pose to global financial and settlement systems, CNBC reported Thursday.

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