BoE weighs easing UK stablecoin caps and reserve demands after industry backlash, in a move that could decide whether GBP tokens can compete with dollar‑pegged rivals. Update May 14, 2:45 pm UTC: This article has been updated to include comments from Katie Haries, head of policy for Europe at Coinbase. The Bank of England (BoE) is reconsidering parts of its proposed regime for pound sterling stablecoins after digital asset companies warned that holding caps and reserve requirements could stifle adoption and make UK-issued tokens uneconomic. The central bank is looking at alternatives to temporary caps on how many stablecoins individuals and businesses can hold, and is examining whether its requirement that at least 40% of backing assets be held as non-interest-bearing deposits at the BoE is overly conservative, Deputy Governor Sarah Breeden told the Financial Times. Read more
They come in blister packs of 10 like any normal painkiller and you can buy them easily in roadside kiosks and street pharmacies across west Africa. Millions of tapentadol tablets from India are helping drive a deadly opioid epidemic ravaging the region, with officials and researchers telling AFP that they are also being added to the “zombie drug” kush. The cheap pills are so strong that no regulatory authority in the world has approved them. Yet an AFP investigation found Indian pharmaceutical firms were flooding west Africa with the pills despite New Delhi vowing to crack down on the trade. Some shipments were even labelled “Harmless Medicines for Human Consumption”. Customs records show millions of dollars’ worth of the high-strength synthetic opioid being shipped from India every month to Nigeria, Sierra Leone and Ghana, where even low doses of the drug are not permitted. With opioids now heavily regulated in wealthier nations after being linked to one million deaths in the United States alone, some manuf...