There is a lot of excitement surrounding pegged digital currencies. Tokens deriving value from fiat currencies can change the way online payments and commerce occur. It is, at this point, seemingly a matter of time until central banks start to get involved in the matter. Bank of England is already throwing its hat in the ring, especially where demand for regulation is concerned.
BoE Governor Andrew Bailey wants to introduce certain payment standards for stablecoin. More specifically, he prefers to use the same standards in place for other forms of money. Whether pegged currencies can be regulated in such a manner, remains to be seen. Not all of these assets are issued by a central bank or financial institution. In the cryptocurrency space, several dozen offerings exist already.
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