The PBoC’s potential rate-hike expectations and legislative setbacks create a macro headwind, but progress on regulatory rules and their implementation by institutions provide partial support, resulting in an overall tug-of-war in the policy front.
Key points
• ING International notes that the Fed and the ECB may raise rates at least once more, and rate-hike expectations will put the market to the test.
• In terms of legislation, the CLARITY Act was dealt a blow, but after the CFTC submitted a proposal for crypto regulation, the market showed an across-the-board rise.
• The number of registered banks under the EU’s MiCA has increased to about 80, with the share rising to nearly 23%, and participation from compliant financial institutions has improved.
• Samsung US has hired a business development lead for payments, clearly stating plans to include stablecoins in Samsung Wallet payment partnerships.
• Within the next few weeks, the Fed will complete its reform plan to improve transparency and accountability in bank stress testing.
What to watch next
• Further signals of rate hikes from the Fed and the ECB, and developments related to interest-rate decisions
• The official rollout of the Fed’s bank stress-testing reform plan in the coming weeks
Key points
• ING International notes that the Fed and the ECB may raise rates at least once more, and rate-hike expectations will put the market to the test.
• In terms of legislation, the CLARITY Act was dealt a blow, but after the CFTC submitted a proposal for crypto regulation, the market showed an across-the-board rise.
• The number of registered banks under the EU’s MiCA has increased to about 80, with the share rising to nearly 23%, and participation from compliant financial institutions has improved.
• Samsung US has hired a business development lead for payments, clearly stating plans to include stablecoins in Samsung Wallet payment partnerships.
• Within the next few weeks, the Fed will complete its reform plan to improve transparency and accountability in bank stress testing.
What to watch next
• Further signals of rate hikes from the Fed and the ECB, and developments related to interest-rate decisions
• The official rollout of the Fed’s bank stress-testing reform plan in the coming weeks