The bank reps said these developments could impact its mandates as banknote issuers as well as its other responsibilities in creating financial stability. In agreement with the G7, the RBA also said it does not think “private sector global stablecoin initiatives” should launch without proper risk mitigation and regulation.
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RBA Skeptical About Global Stablecoins, Libra
Representatives from the Reserve Bank of Australia said they are closely monitoring cryptocurrency developments and remain unsure if there will be a “strong demand domestically.” So reports ZDNet.
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