IRAQ SOUGHT FINANCIAL ASSISTANCE FROM IMF AS A RESULT OF CONFLICT IN MIDDLE EAST, SOURCE CLOSE TO IMF SAYS

FTSE CHINA A50 INDEX FUTURES DOWN OVER 1%

Bank of England is preparing to scale back its planned stablecoin restrictions after industry pressure, with Deputy Governor Sarah Breeden saying initial proposals may have been “overly conservative.” The BoE is reviewing limits on stablecoin holdings, previously proposed at £20,000 per individual and £10mn for firms, and is also rethinking a requirement for at least 40% of backing assets to be held as non-interest-bearing central bank deposits. The review comes as stablecoins remain a small share of the $315bn global market, with the regulator aiming to balance innovation with financial stability concerns.