report that confirms and clarifies that stablecoin arrangements should observe international standards for payment, clearing and settlement systems.Jon Cunliffe, chair of the CPMI and deputy governor for financial stability at the Bank of England, says: "The payments landscape has undergone rapid transformation in recent years and continues to evolve at pace. This is happening at the same time as financial innovation offers the prospect of new payment services and greater competition in payments but also potential risks to the financial system.
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