New Zealand central bank boosts monitoring of stablecoins and crypto assets

Published: Updated:
Read Mode
100% Font Size
1 min read

New Zealand’s central bank said on Friday it was ramping up its monitoring of stablecoins and crypto assets due to uncertainties about how the sector will develop and the potential risks they could pose for the financial system.

For all the latest headlines follow our Google News channel online or via the app.

The decision follows public input to help confirm the issues stablecoins and the new forms of private money might raise for the financial system and monetary sovereignty, the Reserve Bank of New Zealand Director of Money and Cash Ian Woolford said.

“We agree that caution is needed, which also reinforces the need for enhanced data and monitoring to build understanding,” Woolford said in a statement.

Read more:

Binance’s market share is stuck near one-year low

Estonian police investigate crypto hack blamed on North Korea

Top Content Trending