Industry

China pushes standard for low-cost compact EVs modeled on Japan\'s kei cars

China\'s auto industry is moving to create a new standard for low-cost compact electric vehicles modeled on Japan\'s kei-car ecosystem, aiming to bring cheap small EVs into a regulated framework. Cui Dongshu proposed formal limits on size, motor output and minimum range, along with a simplified C7 licence for elderly and novice drivers. The plan follows a 2024 ban on many low-speed EVs amid safety concerns.

Crypto

Bank of England reconsiders reserve rules for pound stablecoins

The Bank of England is re-examining holding limits and reserve requirements it planned to apply to pound-denominated stablecoins. It is weighing whether to keep temporary caps on how much individuals and companies can hold and whether requiring at least 40 percent of reserve assets to sit as non-interest-bearing deposits at the central bank is too conservative. The review follows industry concerns that the rules would be hard to supervise and would hurt profitability.