Almost 60% of Gen Z Americans are planning to move this year and will need to create a starter budget. They’re not alone; some Millennials and Gen Xers are still operating without one.
The Bank of England has published proposed rules for privately issued stablecoins. This sector of Fintech may become the new, improved payment rails that provide instant transfers and payments at a lower cost than legacy providers. The rules have encouraged some participants in the stablecoin business. Below is a series of comments CI received from Fintech insiders on the banks’ approach to stablecoin issuance and usage.
The Chief Partnership Officer at Equals, Matthijs Boon, says that until recently, regulation has inhibited the institutional adoption of stablecoins. The Bank of England’s sterling-denominated stablecoin policy is welcome because it recognizes stablecoins as a means of payment rather than as an investment or a store of value.
“Enabling systemic stablecoins to directly access payment systems is an important step towards enabling near-instant settlement with pound sterling-denominated stablecoins,” says Boon. “However, these are initial steps, and regulation is only part of the story. To support mainstream adoption, businesses need regulated payment partners that can manage the operational complexity of introducing a new payment method. As with any payment innovation, success depends on balancing trust and security with simplicity – stablecoin payments will, in time, be commonplace alongside existing treasury, compliance, and payment workflows, and regulated payment partners have an important role in making that transition happen.”
Shantnoo Saxsena, CEO and founder of Encryptus, a regulated cross-border payments infrastructure provider, says the decision to remove individual ownership caps and lower reserve requirements is a welcome step forward. At the same time, the £40 billion issuance limit suggests that policymakers are still focused on the wrong risk.
“The framework assumes stablecoins primarily compete with domestic bank deposits, when much of the demand is driven by cross-border payments. Migrant workers in the UK send more than £9 billion abroad each year, often losing 6-8% of every transfer to correspondent banking fees and delays. A £40 billion cap on sterling stablecoins may sound generous, but it effectively keeps the infrastructure at pilot scale while dollar stablecoins issued elsewhere are already supporting real remittance flows,” states Saxsena. “We operate under US state licensing through Anzens [issuer of USDA, a dollar stablecoin], where regulators focus on reserve quality, redemption rights, and consumer protections rather than imposing artificial limits on growth. The UK now stands alone among major jurisdictions in capping stablecoin issuance in its own currency. That distinction will matter when payment networks and infrastructure providers decide where to invest and build.”
The CEO of RS2, Radi El Haj, describes the Bank of England’s proposed framework as an important step for the UK and indicates how quickly the stablecoin market has developed. He notes that Europe has already enacted MiCA, the US has approved stablecoin legislation, and other regions are moving forward.
“Dollar-backed stablecoins already dominate global trading and settlement, while GBP stablecoin volumes remain relatively small,” El Haj says. “The UK has not missed its opportunity; the opportunity has changed. Success will not come from launching the highest number of stablecoins, but from making stablecoins work as part of the wider payments ecosystem by integrating with the infrastructure that supports issuing, acquiring, settlement, reconciliation, and reporting at scale.”
He sees the Bank of England’s focus on reserve quality, redemption, and operational resilience as reflecting a broader shift in the market. The discussion has moved from whether stablecoins work, and now the priority is whether users can trust stablecoins at scale. The trust arrives from transparency and operational resilience across payment flows and risk.
“Payments have followed this pattern before. Cards, digital wallets and real-time payments achieved widespread adoption because infrastructure, regulation and trust developed together. Stablecoins are following the same path. The challenge now is not creating digital money. The challenge is operating it safely, reliably and consistently across markets, institutions and regulatory environments. That will decide whether stablecoins become a meaningful part of global payments or remain a niche technology,” states El Haj.
Torab Torabi, CEO of Movement, a settlement and yield layer for stablecoins that reports access to licensed payment rails across the European Union, believes the Bank of England has realized that in order to compete with the US, it must completely rethink its stablecoin strategy. This is great news for the UK and the pound
“The Bank of England has capped each systemic sterling stablecoin at £40 billion, but that’s not enough to compete on the global stage. USDT is already past $180 billion in stablecoin minting. Yield is the other half of the equation, and the coins that earn for the people holding them are the ones that win distribution. The networks that solve payments and yield in the same place are the ones that will define this category,” adds Torabi.
Theo Golden, Head of Digital Assets at Baillie Gifford, calls the Bank of England’s proposal on stablecoins exactly what the UK needs. He says this is pro-growth regulation and stablecoins are a key piece of the tokenization puzzle. Onchain infrastructure will make financial markets more resilient, efficient, efficent and useful, says Golden
“Stablecoins will only become trusted money if they are built on familiar regulation, proper oversight, and clear accountability. This approach by the BoE comprises each of these elements,” Gifford says. “There is a good balance between giving innovators a credible route to scale in the UK, while protecting consumers, financial stability and the integrity of sterling. This is how Britain should lead in digital finance: not by racing to the bottom, but by setting world-class rules that attract world-class firms.”
Gifford says they are excited to see the progress while wondering if this will include settlement for wholesale markets.
“The foundations for tokenization regulation already exist in many areas; what matters now is bringing the remaining pieces of market infrastructure into line with the standards expected across established financial markets. The opportunity for the UK is not to create a lower-standard version of finance onchain, but to apply its existing strengths to new infrastructure and help tokenization become a serious part of how markets operate.”
Zumo founder and CEO Nick Jones adds to the laudatory comments on the bank’s proposal, stating that this shows policymakers can back up their rhetoric and are finally working with industry to ensure the framework will work.
“This is great news for the sector to wake up to this week. It shows policymakers are backing their rhetoric and are committed to really working with the industry to arrive at a framework that suits all stakeholders. Perhaps most importantly, it will encourage the serious stablecoin players, such as Tether and Circle, to engage more meaningfully with the UK market, having understandably previously been put off by the initial draft rules.”
Like others, Jones sees ownership limits as stifling innovation and putting the UK at a competitive disadvantage.
“It would have also been at odds with the driving idea of providing genuine choice in our future financial system. By shelving these restrictive plans in favor of a more operationally viable issuance limit, the Bank of England can achieve the same policy outcomes without hampering business models. It’s also important that the Bank has recognized valid industry concerns and lowered the proportion of assets backing stablecoins that must be held in zero-interest central bank deposits. Increasing the maximum share held in interest-bearing assets to 70% will help to significantly boost issuers’ profitability, enabling them to generate higher yields on their reserve funds while ensuring the remaining 30% held in central bank deposits maintains adequate liquidity for prompt redemptions.”
Jones predicts the updated rules will make it more attractive to launch pound sterling stablecoins, describing the bank’s proposal as a “timely injection of confidence” the UK needs.
Mark Fairless, CEO of ClearBank, believes there is more work to be done. While welcoming the proposal, he believes the UK cannot win this global race if sterling stablecoins are less commercially viable or less useful than dollar stablecoins or euro-based options.
While the “direction of travel is encouraging” and the bank is listening to industry insiders, further progress is needed to ensure the framework does not constrain sustainable business models.
“Beyond these new rules today, there is a bigger problem, which is that it is near impossible for banks to issue stablecoins in a commercially viable way, meaning the UK is playing catch-up with its global counterparts,” Fairless states. “The endgame should be a truly risk-based framework rather than a one-size-fits-all approach, otherwise the UK is in danger of leaving sterling stablecoins at the starting line while other markets move ahead.”
Xapo Bank Executive Director and Regulatory Affairs Officer Joey Garcia sees the proposal as indicative of the bank’s willingness to take feedback into account, which is good for the UK Fintech sector and a “vital course correction.”
“By shifting away from an overly severe risk lens, UK regulators are setting the UK on a course to maintain pace with the progress already seen in the US, EU, and other major jurisdictions. Critically, a more flexible regime paves the way for a robust sterling stablecoin ecosystem, mitigating the very real risk of the UK market being completely dominated by US Dollar-denominated digital assets. This pragmatic approach will help safeguard the UK’s ambition to remain a leading global hub for financial innovation,” shares Garcia. “Imposing preemptive holding limits of £20,000 and forcing issuers to hold 40% of backing assets in unremunerated deposits would have strangled the UK stablecoin market at birth. By reconsidering these heavy-handed proposals, the Bank of England is choosing to foster digital asset utility rather than restrict it. Regulation must allow for innovation while managing risk, and this decision demonstrates a willingness to engage in a proportionate, constructive dialogue with the industry. It signals that the UK is open for digital finance.”
Garcia says the progress is welcome, but questions remain regarding the feasibility and workings of issuance caps, along with concerns about competitiveness and issuer business models “that are constrained to having only 70% of their backing assets capable of remuneration.”
“We look forward to engaging with the Bank of England on further refining these proposals, in line with the House of Lords Financial Services Regulatory Committee’s recommendations, to ensure a truly world-leading outcome.”
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In this video, we cover all about Master of International Business. Narrated by Sameer Kamat (founder, MBA Crystal Ball).
– What is Master in International Business?
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Also read:
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n today’s market, a company’s bottom line isn’t the only number investors watch. Many also want to know how a company treats the planet, its workers, and its shareholders. If you want to do well while doing good, you may be considering ESG investing — short for environmental, social, and governance investing, also called socially responsible investing (SRI) or sustainable investing.
But the landscape looks very different than it did a few years ago. After explosive growth through 2021, sustainable investing has hit real headwinds: years of fund outflows, a political backlash, and a federal retreat from climate disclosure rules. At the same time, trillions of dollars still sit in ESG-screened strategies, and surveys show steady interest among younger investors.
Here’s an honest look at the pros and cons before you decide whether ESG investing belongs in your portfolio.
It helps to separate two very different numbers you’ll see quoted.
The broad figure — counting any assets that incorporate ESG factors in some way — is large but has actually shrunk. After a methodology change by the Global Sustainable Investment Alliance, global ESG assets fell from roughly $35 trillion in 2020 to about $30 trillion in 2022, and Bloomberg Intelligence now projects around $40 trillion by 2030 — well below the $50-trillion-by-2025 estimates that circulated in 2021.
The narrower (and arguably more meaningful) figure counts dedicated sustainable funds and ETFs. By Morningstar’s count, that universe held a little over $3.9 trillion globally at the end of 2025, with the US accounting for only about 9% of it. US sustainable funds have now seen net outflows for three straight years.
That split matters: ESG is still a major force in Europe, but it’s a much smaller, and currently shrinking, slice of the US market.
ESG investing isn’t only about avoiding harm. Large, publicly traded companies have the scale and resources to push for change — whether by reducing emissions, improving labor practices, or producing products that serve people well. If those outcomes matter to you, aligning your dollars with your values is a legitimate reason to invest this way, regardless of where the broader market sentiment sits.
Overtrading can be hazardous to wealth. Many investing thought leaders have cited a study that Fidelity’s best investors are dead because they can’t overtrade. The study appears to be debatable, but its point remains. Common investors do best when they buy and hold over the long run.
But sticking with a portfolio allocation can be tough. Investors use all kinds of heuristics to avoid eroding their wealth through common mistakes. Some never look at their portfolio. Others dedicate a small portion of their money to “Vegas money.”
If ESG investors believe that their portfolio is bringing positive social effects, they may be more likely to stay invested in the long run. They won’t have as much incentive to chase the hot new stock because it needs to fit into their socially curated portfolio.
A common worry is that screening for ESG means sacrificing returns. The long-run evidence is mixed-to-reassuring: multiple studies, including a widely cited Morgan Stanley Institute for Sustainable Investing analysis of thousands of funds, have found that diversified ESG funds performed roughly in line with comparable conventional funds, net of fees.
The key word is roughly. Performance swings with the economic cycle. In 2024, for example, the median US large-blend sustainable fund returned about 20.7%, trailing the 21.5% median for conventional funds, as energy and defense stocks — sectors many ESG funds underweight — rallied. Over a full cycle the gap may close, but you should expect stretches of underperformance, especially during energy booms.
ESG and SRI funds have historically carried higher expense ratios than plain index funds, and that’s still true — though the gap has narrowed dramatically as competition and asset flows have driven fees down. At a robo-advisor like Betterment, for instance, the SRI portfolio ETFs run modestly higher than the standard portfolio, a difference now measured in a handful of basis points rather than a full percentage point.
That premium may be worth it to you. But over decades, even small fee differences compound, so it’s worth knowing what you’re paying.
No company can lead across every ESG dimension. Some promote women in leadership positions, others reduce pollution and carbon emissions. Others avoid cronyism and other misbehaviors that threaten democratic ideals at home and abroad. Few companies do everything well. And most companies choose to report their most impressive records.
Even if clear metrics for ESG efforts existed (which they don’t), investors would still have to choose the issues they care about. For example, oil companies extract and burn fossil fuels, but they are also heavily invested in renewable energy research and development. Even more dubiously, agricultural companies produce food that feeds the planet and lifts millions of farmers out of poverty, but they may be polluters or engaging in unsustainable environmental practices.
One company may have a strong record of women in leadership positions, but over index on polluting and carbon emission activities. Another may have a strong environmental record but have poor employee-management relationships.
When vetting an ESG fund or platform, make sure that you understand which issues are most important to the fund manager. If those values align with yours, then the fund or the platform may make sense for you.
The Securities and Exchange Commission (SEC) regulates reporting for publicly traded companies. While the SEC requires companies to report certain metrics, its governance of ESG metrics is loose. As a result, every company manages its own ESG reporting.
An external agency, International Sustainability Standards Board (ISSB) is slowly working towards setting international environmental standards, but this work is slow. Today, investors must depend on company-defined and reported metrics. In some cases, these may be credible sources of information, but they may gloss over some poor business practices.
You either need to trust your fund manager to dig into these metrics for you, or you’ll need to spend a lot of time researching individual companies to add to your portfolio.
This has shifted in both directions since 2023.
On one hand, real standards now exist. The International Sustainability Standards Board (ISSB) published global disclosure standards (IFRS S1 and S2) in 2023, and more than 35 jurisdictions worldwide have adopted or are aligning with them.
On the other hand, the US has pulled back. The SEC adopted climate disclosure rules in March 2024, stayed them weeks later amid legal challenges, and in March 2025 voted to end its defense of the rules before moving to rescind them entirely. The SEC also stepped back from the ISSB. For now, federal ESG disclosure for US companies is effectively on hold. What fills the gap is a patchwork: state laws such as California’s SB 253 and SB 261, plus the EU’s Corporate Sustainability Reporting Directive for companies with European operations.
The practical takeaway: US company ESG reporting is still largely self-defined and inconsistent. You’ll need to trust your fund manager’s research or do significant homework yourself.
As an ESG investor, you aren’t precluded from investing in any sector of the economy, but you run the risk of becoming under diversified due to your ESG standards. For example, a person who requires a strong track record of women and minorities in leadership positions would find very few large U.S. stocks in their portfolio.
If you don’t actively seek out energy alternatives, you’re likely to miss out on this important sector. Figuring out an appropriate asset allocation becomes very important if you’re an ESG. Using a portfolio analysis tool may be critical to keeping your portfolio on track.
ESG investing has become politically polarized in the US, and that has consequences for investors. Several states have passed laws restricting ESG considerations in public-fund investing. Asset managers have responded by quietly dropping “ESG” from fund names, scaling back commitments, and in some cases closing funds. In 2024, for the first time, more US sustainable funds were liquidated or dropped their ESG mandates than were launched.
This doesn’t necessarily affect a diversified fund’s day-to-day returns, but it does mean more fund closures, mergers, and rebranding — which can be disruptive if a fund you own changes course or shuts down.
There are hundreds of ESG mutual funds available. Robo-advisors like Betterment and Wealthfront offer ESG options for investors seeking passive options. Take a look at the table below for a quick comparison.
|
Header
|
 |
 |
 |
|---|---|---|---|
|
Rating |
|||
|
Annual Fee |
0.25% to 0.40% |
0.25% |
0.30% |
|
Min Investment |
$0 |
$500 |
$50,000 |
|
Advice Options |
Auto and Human |
Auto |
Auto and Human |
|
Banking? |
|||
|
Cell
|
Only you can decide whether to include environmental, social, and governance factors in your portfolio. If you decide to use those factors in your portfolio, you need to choose which issues are most important to you and select your portfolio based on those criteria (and profitability).
Editor: Claire Tak
The post ESG Investing Pros And Cons: What Changed After The SEC Pullback appeared first on The College Investor.
Bonk president purchases additional 10,000 shares
Many long-term investors have become accustomed to just buying index funds and exchange-traded funds (ETFs) that provide broad exposure to a mix of stocks and simply hanging on for the long haul. But this isn’t a perfect strategy. There are some serious issues with buying some of the most popular funds on the market right now. With valuations rising and Space Exploration Technologies (SPCX +1.61%), also known as SpaceX, being added to many of them, they are going to get a whole lot more expensive in the near future.
Investing in index funds and ETFs could be riskier than normal these days, and here’s why picking individual stocks may be the way to go right now.
Image source: Getty Images.
SpaceX recently went public at an astronomical valuation; its market cap is around $2.1 trillion today, making it one of the most valuable stocks in the world. But it’s also unprofitable and trades at more than 100 times revenue, making it among the most egregiously priced stocks you can find right now.
The Nasdaq recently made changes that make it easier for IPOs to be added to the Nasdaq-100 index, a collection of the most valuable non-financial stocks on the exchange. SpaceX is set to be added to the index as early as July. Other IPOs, including OpenAI and Anthropic, may also follow suit when they go public in the near future.
While this may sound great for growth investors, these are also the types of companies that are likely to have high valuations, not due to their strong underlying fundamentals, but rather the hype around their businesses. This makes investing in a fund such as the Invesco QQQ Trust (QQQ 3.29%), which tracks the Nasdaq-100, a bit risky. The Nasdaq is already full of high-priced stocks, and adding SpaceX and other highly valued IPOs may make the situation worse, not better.
Today’s Change
(-3.29%) $-24.30
Current Price
$713.65
Day’s Range
$712.11 – $723.61
52wk Range
$539.38 – $748.65
Volume
478.4K
If you’re investing in individual stocks, you know which companies are in your portfolio. With a broad fund, however, you might get exposure to a whole bunch of stocks you don’t really want. And if the fund rebalances over time, such as the Invesco fund, it can also change. Unless you’re staying on top of such developments, you may not realize which stocks are impacting your portfolio.
By going with individual stocks, you won’t have to wonder. Investing in many types of growth stocks can be a good way to spread out your risk while still setting yourself up for long-term success. And with minimal and in some cases no commission fees, there’s no longer a high cost to deter you from owning a broad mix of stocks.
WASHINGTON — A housing legislative package that has bounced back and forth between the Senate and House for months has finally cleared Congress, with the House passing the measure by a wide margin.
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The bill passed in a 358-32 vote. All Democrats and most Republicans voted in favor of the bill, which will now go to President Donald Trump for his signature.
It was
Some Republican lawmakers, belonging to the most conservative edge of the party, tried to hold up the vote earlier on Tuesday, briefly threatening a procedural block that would have delayed the bill’s final passage. The lawmakers, led by Rep. Anna Paulina Luna of Florida, wanted to attach the president’s favored voting bill, the SAVE Act, to the housing package.
The housing bill’s authors say it will cut red tape for local housing construction across the country, especially for manufactured housing projects. It also includes a number of community bank-favored measures, including brokered deposit bills and one bill that would raise the asset threshold for banks to qualify for a longer 18-month examination cycle from $3 billion to $6 billion, and another that would make it easier for de novo banks to form.
The final version of the legislation
“Throughout the process, I have fought to increase the supply of housing, cut red tape, increase capital, and make local rules and zoning more competitive,” Hill said. “We have achieved that by strengthening community banks, preventing institutional investors from outcompeting American families for homes, and modernizing building codes.”
Amazon has a new promotion on diapers and wipes, offering a $30 credit when you spend $100 or more on eligible items. Here’s how this offer works:
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Keep in mind that Amazon offers free shipping on orders of $35+, or free next-day shipping on all orders with Amazon Prime. Prime members can also share benefits with a Household member. Students and all 18-25 year olds as well as EBT/SNAP/Medicaid cardholders can get a discounted Prime membership.
Disclaimer: As an Amazon Associate I earn from qualifying purchases made through this article. Using links on the site for Amazon purchases is the best way you can support the site as you normally can’t earn cash back for these purchases. But, you should still check shopping portals such as Rakuten, TopCashback, RebatesMe, ShopBack and others for possible cashback. Your support is always greatly appreciated!
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Bravado, Universal Music Group’s merchandise and brand management division, has won a court order authorizing the seizure of counterfeit merchandise from bootleggers at A$AP Rocky‘s concerts.
US District Judge Sim Lake signed a temporary restraining order and seizure order on Wednesday (June 17) in the Southern District of Texas (Houston Division), covering concerts on the rapper’s Don’t Be Dumb World Tour.
The order (which you can see here) applied to A$AP Rocky‘s Toyota Center show in Houston on Saturday (June 20) and remains in effect pending a show-cause hearing on Wednesday (July 1), at which Bravado will seek a preliminary injunction covering the rest of the tour
It followed a trademark infringement complaint and ex parte application that Bravado filed on Thursday (June 11).
Bravado states in the complaint that it holds the exclusive right to use the A$AP Rocky trademarks on tour merchandise, pursuant to an agreement with the artist.
The lawsuit names John Does 1-100, Jane Does 1-100, and XYZ Company as defendants, described as individuals and entities “who are sued herein under fictitious names because their true names and capacities are unknown at this time.”
The complaint states that it “will be amended when their true names and capacities are ascertained.”
According to the filing, A$AP Rocky holds Federal Trademark Registration No. 7562837 for the A$AP Rocky mark, covering clothing, entertainment services, and musical sound recordings.
The complaint alleges that the defendants “will sell and distribute unauthorized, infringing T-shirts, jerseys, caps and/or other merchandise bearing any or all of the Artist’s Trademarks” in the vicinity of concerts on the tour.
“The Infringing Merchandise is of the same general appearance as Plaintiff‘s Authorized Tour Merchandise and is likely to cause confusion among prospective purchasers,” the filing reads.
“The Infringing Merchandise sold by Defendants is generally of inferior quality.”
The complaint states that the sale of counterfeit goods is “likely to cause the purchasing public to believe that the sale and distribution of such Infringing Merchandise is authorized, sponsored or approved by the Artist and/or Plaintiff.”
It adds that such activity “also injures the Artist and Plaintiff in that Defendants do not have to pay any royalty for these unlawful sales.”
The lawsuit brings two causes of action: infringement of a registered trademark under 15 U.S.C. § 1114(b), and false designation of origin under Section 43(a) of the Lanham Act.
Under the order, the defendants are temporarily restrained from making, distributing or selling merchandise bearing the A$AP Rocky trademarks.
It authorizes the US Marshal, state and local police, and Bravado’s agents to seize infringing goods “from three (3) hours before to three (3) hours after any performance of the tour.”
The seizure power covers a three-mile vicinity of the venues and reaches any district in which Bravado enforces the order.
It was conditioned on Bravado posting a $5,000 bond by Thursday (June 18), and on the company covering any fees charged by the law enforcement officers it uses.
At the July 1 hearing, the defendants can show cause why a preliminary injunction should not be granted, with any responsive papers due on Thursday (June 25).
Bravado had sought the relief in an ex parte application brought under Federal Rule of Civil Procedure 65, the Lanham Act, and the All Writs Act.
The application was supported by a declaration from Bravado’s Ashley Fogerty and a certificate from its counsel.
A supporting memorandum argued that “each sale of Infringing Merchandise by Defendants is an irrecoverably lost sale for Plaintiff.”
In its complaint, Bravado also seeks the destruction of all infringing merchandise and damages “in an amount to be determined.”
The lawsuit is the latest in a growing wave of anti-counterfeiting litigation across the music industry.
In April, HYBE filed a comparable complaint against unnamed bootleggers ahead of BTS‘s US tour dates, while Live Nation subsidiary Merch Traffic filed a trademark infringement suit on behalf of Bruce Springsteen & The E Street Band around the same time.
Sony‘s merch venture Ceremony of Roses has also recently obtained court orders targeting bootleggers at Benson Boone and Dua Lipa concerts.
The surge in legal action reflects the growing financial importance of merchandise to the music business.
UMG‘s Bravado, the merch operation at the world’s largest music company, for example, generated $912 million in revenue in 2025 and is sure to have a billion dollars in annual turnover in its sights for 2026.
As MBW has previously reported, the boom in live music has made ancillary income at concerts, particularly from apparel and consumer goods, an increasingly significant earnings stream for artists and their partners.
A$AP Rocky‘s Don’t Be Dumb World Tour kicked off on Wednesday May 27 at the United Center in Chicago.
The 42-date arena tour, promoted by Live Nation, spans North America and Europe and supports the rapper’s fourth studio album, Don’t Be Dumb, which debuted at No.1 on the Billboard 200 in January with 123,000 equivalent album units in its first week.
Bravado is represented in the case by Cara R. Burns of Mims, Kaplan, Burns & Garretson.Music Business Worldwide
