इंग्लैंड बैंक ने स्थिर सिक्के (stablecoin) प्रतिबंधों में ढील दी।

What happened: The Bank of England (BoE) is delaying interest rate hikes due to Iran war uncertainty and weak UK growth, keeping rates at 3.75%. Meanwhile, the BoE is set to ease proposed stablecoin restrictions, removing a cap on individual ownership, following industry lobbying. However, BoE's Megan Greene predicts stablecoin demand may soon fade, replaced by tokenised deposits.

Market impact: This narrative affects the financial sector and digital asset firms. The BoE's rate pause supports UK government bonds and mortgage borrowers, while the stablecoin regulation shift impacts cryptocurrency firms like Circle and Tether. Greene's comments could influence investor sentiment towards stablecoins and tokenised deposits.

What to watch next: The BoE's next interest rate decision, scheduled for June 22, will confirm if rates remain on hold. The BoE's final stablecoin regulation, expected in Q3 2023, will clarify the new ownership limits. Additionally, Greene's views on stablecoins will be reassessed at her next public speaking engagement, currently unscheduled.