Regulatory attitude softened UK central bank proposes allowing stablecoin issuers to invest in short-term government bonds

The Wisdom Financial App learned that the Bank of England proposed on Monday to allow issuers of widely used stablecoins to support up to 60% of digital token assets in short-term government debt. This move is part of a series of new regulations that indicate a softening stance towards the industry. It is understood that stablecoins are digital tokens designed to maintain a constant value, usually backed by traditional assets such as government bonds. The industry is booming, thanks to federal regulations passed earlier this year in the United States.