Bank of England softens stablecoin stance with new proposals

LONDON (Reuters) -The Bank of England on Monday proposed that issuers of widely used stablecoins be allowed to invest up to 60% of ​the assets backing the digital tokens in short-term government debt, part of ‌a raft of new rules that suggest a softening in its approach to the sector. Stablecoins are digital tokens designed ‌to keep a constant value and often backed by traditional assets such as government debt. The sector is booming, aided by the U.S. agreeing federal rules earlier this year. The crypto ...