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Deutsche Bank is exploring stablecoins and tokenized deposits Market news: Deutsche Bank is exploring stablecoins and tokenized deposits. (Jinshi)

stablecoin chains by issuers makes no sense because like congratulations but we just recreated a bank

Deutsche Bank is exploring Stablecoins and Tokenized Deposits

UK’s Financial Conduct Authority (FCA) has proposed lifting the ban on crypto exchange-traded notes (cETNs) to retail investors. FCA said the proposed change would allow individual consumers to access crypto ETNs, provided the products are listed on FCA-recognized exchanges. The regulator revealed that the move aims to support the growth of the UK’s crypto industry. The agency also acknowledged that its promotion rules will still apply. The restriction has existed since 2021 and previously limited access to professional investors only. The FCA began prohibiting the selling, marketing, and distribution of crypto derivatives and crypto ETNs to retail customers in 2019. The regulator updated its position in March 2024 to allow RIEs to list crypto asset-backed ETNs for professional investors only – restricted to entities such as investment firms and credit institutions. It also added stringent controls to ensure orderly trading and investor protection. Ian Taylor, board advisor at CryptoUK, noted that the UK had been an outlier on ETNs till its recent lift on the ban. He hopes the move will improve consumer protections and promised to continue making the case for lifting the ban on retail investors from accessing highly regulated derivative products. Diego Ballon Ossio, partner at British law firm Clifford Chance, argued that the agency’s initiative is aligned with the UK’s ambition to position itself as a sophisticated jurisdiction in the crypto sector. He also noted that the move will unlock exposure to crypto assets for retail investors and signal that the UK is embracing digital assets. “We want to rebalance our approach to risk, and lifting the ban would allow people to make the choice on whether such a high-risk investment is right for them, given they could lose all their money.” -David Geale, Executive Director of Payments and Digital Assets at FCA. The UK Treasury acknowledged that crypto exchanges will be regulated similarly to traditional financial firms under the proposed rules, with transparency, consumer protection, and operational resilience requirements. The regulator also maintained that its rules aim to ensure regulated stablecoins maintain their value, irrespective of the value of the backing asset. FCA also urged customers to ensure they know how backing assets are managed. The agency is also working on a new version of its crypto regulatory framework. FCA requested public feedback on proposed stablecoins and cryptocurrency custody regulations last week. Geale said the regulator supports innovation while ensuring market integrity and trust. FCA also noted that the deadline for feedback is July 31, and it will publish the final rules in 2026 Bank of England Deputy Governor Sarah Breeden noted that the Bank of England will publish a complimentary consultation paper later this year for stablecoins that expect to operate at a systemic scale. UK Chancellor of the Exchequer Rachel Reeves also suggested plans for a comprehensive regulatory regime to make the country a leader in the crypto space. Data revealed that the UK is leading the world in increasing cryptocurrency ownership among its population in 2025, surpassing economies such as the U.S. Jamie Jefferson, senior associate at law firm Ashurst, mentioned that the FCA’s latest proposals are a bold step toward making the UK a hub for responsible crypto innovation. Another UK law firm, Wiggin, suggested that the UK is applying the full weight of securities regulation to digital assets rather than opting for a light-touch regime similar to the EU’s Markets in Crypto-Assets Regulation ( MiCA ). The government agency also introduced new requirements for companies providing crypto custody to ensure they are secured and can be easily accessed at any time. The proposal also seeks to reduce the likelihood and impact of firm failures across regulated companies offering stablecoin issuance and digital asset custody. The Cabinet Office Minister Pat McFadden argued during the UK House of Commons debate that as finance evolves, so must the rules to ensure transparency in elections. Member of Parliament Sarah Olney highlighted concerns over political parties accepting crypto donations. Olney stressed the need to ensure that donations that do not come from an identifiable source must be returned. Nigel Farage, leader of the Reform UK party, had previously announced that the party accepts cryptocurrency contributions from eligible donors. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Russia’s central bank cut interest rates by 100 basis points on Friday, bringing the key rate down to 20% for the first time since September 2022. The cut comes as inflation, which President Vladimir Putin had previously called “alarming,” finally shows signs of cooling. The decision was made after inflation dropped to 6.2% in April, down from an average of 8.2% in the first quarter of 2025. Rates had been stuck at 21% since October, the highest level since the central bank created the current benchmark in 2013. The Bank of Russia said on Friday that demand is still running hotter than what local industries can supply, but claimed the economy is “gradually returning to a balanced growth path.” However, they made it clear they plan to keep monetary policy tight “for a long period” to bring inflation back to their 4% target. The cut didn’t come out of nowhere. Maxim Reshetnikov, Russia’s economy minister, had been calling for a rate reduction earlier in the week. His concern centered around shrinking growth across multiple sectors. Russia’s GDP growth had jumped after the early damage from the war in 2022 and 2023, but the bounce didn’t last. By Q1 2025, growth dropped to 1.4%, compared to 4.5% in the last quarter of 2024. Most of what’s left is in military and defense manufacturing, held up by heavy state spending. The full-scale invasion of Ukraine in February 2022 continues to distort economic fundamentals. The ruble took a hit back then, raising the price of everything imported. Russia had to rebuild its financial system from the ground up while navigating sanctions , a military budget explosion, and volatile export revenue. But even with all of that, the ruble hasn’t just stabilized—it’s thriving. Bank of America called the ruble the best-performing currency in the world so far this year. Capital controls, strict rate policies, and a weakening US dollar are all feeding that outcome. Even on Friday, after the rate cut, the greenback jumped 2.72% against the ruble, showing how closely traders watch moves from the Kremlin. Nicholas Farr, an economist at Capital Economics, said the 20% cut surprised markets. “It was a dovish surprise,” he said , predicting that rates would now likely hit 17% by year-end, rather than the previously expected 18%. But he cautioned, “demand-supply imbalances from the war suggest interest rates will need to stay in restrictive territory.” Another major factor pushing up the ruble is how Russian exporters handle their profits. The government forces companies—especially oil firms—to bring back a chunk of their earnings and exchange them into rubles. That demand fuels the ruble’s rise. Between January and April, those large exporters sold $42.5 billion in foreign currency, a 6% jump from the previous four months, based on CBR data. There’s also been a change in how much cash the CBR is putting into the system. Steve Hanke, economics professor at Johns Hopkins University, pointed out that in August 2023, the money supply was growing at 23.9% per year. Since January, it’s dropped sharply. As of now, the growth rate is actually negative, contracting at -1.19% annually. Expectations earlier this year that President Donald Trump, back in office, would help bring peace between Moscow and Kyiv had initially pushed some foreign investment back into ruble assets. Wells Fargo’s McKenna said that buzz gave the currency another boost, even as capital controls remained in place. But the optimism didn’t last. Talks have gone nowhere. Attacks continue, and nothing has changed at the negotiating table. Still, the ruble has stayed strong. But analysts say that’s not going to last. Melaschenko warned that the currency is “close to its maximum and may begin to weaken in the near future.” With oil prices dropping hard this year, revenue from energy exports will likely fall too. That would cut into how much foreign currency enters the country, dragging on ruble strength. McKenna also pointed out that a solid peace agreement between Russia and Ukraine might actually wreck the rally. “Ruble can selloff pretty rapidly going forward, especially if a peace or ceasefire is reached,” he said. In his view, the end of the war would mean dropping the capital controls that are holding the ruble up. “In that scenario, capital controls probably get fully lifted and the central bank might cut rates rather quickly,” he added. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites