Sarah Breeden, the incoming deputy governor of the Bank of England (BOE), said that the encryption industry does not pose a major risk to financial stability for the time being, but if its connection with the financial world deepens,
Especially when stablecoins are used for payments, it can pose a significant risk.
It is reported that Sarah Breeden has worked for the BOE for a long time. She will help guide the UK to formulate regulatory encryption methods and play a role in deciding whether to issue a central bank digital currency (CBDC).
Breeden supports CBDC, believing it will become the anchor for all currencies in the digital world.