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Europe is extending friendly ties with the BRICS alliance as Trump’s tariffs hit the market in February. Several European leaders have expressed displeasure at Trump’s decision to impose tariffs on close Western allies. BRICS member China is making use of the escalating tensions between the US and Europe and extending cordial relations. Also Read: When Is the BRICS Summit in 2025? Some countries in Europe are reconsidering their relations with BRICS member China, while others are aiming to diversify their partnerships with Japan and South Korea. Many other European nations are reaching out to India to procure goods. The widening rift between the US and Europe stems out of tariffs and its stance in the Ukraine war. Also Read: BRICS: Goldman Sachs Predicts US Dollar Will Experience a Boom US Tariffs: Will Europe Get Friendly With BRICS? Source: VCG However, the European Union faces a mixed approach with BRICS member China as some advocate for partnerships while others take a ...

The proposed guidelines are currently in the public consultation phase for the next three months, and if approved, it will come into effect starting in June 2024. The aim of the new liquidity guidelines is to ensure that the stablecoin can be quickly redeemed even during turmoil market conditions to avoid the risk of any bank runs and contagion in a crisis situation. Under the proposed liquidity guidelines, stablecoin issuers must offer any stablecoin backed by a currency that is fully redeemable at par to investors. The official proposal by EBA noted that the stablecoin liquidity guidelines will act as a liquidity stress test for stablecoin issuers. EBA believes the stress test will highlight any shortcomings and lack of liquidity for the stablecoin , which can help EBA to only approve fully backed stablecoin s with enough liquidity buffer. “The liquidity stress testing will help issuers of tokens to better manage their reserve of assets and generally their liquidity risk. Based o...