The ECB is winning support for a ban on stablecoins issued jointly in the bloc and other jurisdictions

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TL;DR: EU watchdogs, led by the ECB, want to ban “multi-issuance” stablecoins over financial stability risks. This threatens Circle & Paxos’ EU model, exposes tensions in MiCA regulation, and highlights Europe’s pushback against dollar-backed crypto dominance.

Top comment by @Danicjade

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EU Systemic Risk Board recommends banning multi issuance ... (ledgerinsights.com)
ECB seeks ban on multi-issuance stablecoins, eyes digital euro ... (investinglive.com)
The ECB is winning support for a ban on stablecoins issued jointly in ... (x.com)
Stablecoins on the rise: still small in the euro area, but spillover risks ... (ecb.europa.eu)
Multi-issuer stablecoins: A threat to financial stability - CEPR (cepr.org)

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Danicjade

TL;DR:
EU watchdogs, led by the ECB, want to ban “multi-issuance” stablecoins over financial stability risks. This threatens Circle & Paxos’ EU model, exposes tensions in MiCA regulation, and highlights Europe’s pushback against dollar-backed crypto dominance.

Milkmaster7

i guess only USDC that follows MiCA?

Danicjade

TL;DR:
EU watchdogs, led by the ECB, want to ban “multi-issuance” stablecoins over financial stability risks. This threatens Circle & Paxos’ EU model, exposes tensions in MiCA regulation, and highlights Europe’s pushback against dollar-backed crypto dominance.

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The ECB is winning support for a ban on stablecoins issued jointly in the bloc and other jurisdictions

More coverage

Explore the topic

More on ECB

ECB selects Nexi and Deutsche Telekom as network providers for digital euro connectivity

Lagarde says she will step down as ECB president on 7 February 2027

Stuttgart Stock Exchange receives ESMA and ECB license for blockchain trading and settlement of tokenized securities

ECB's Isabel Schnabel calls for central bank money to move onchain, warning tokenized markets could rely on private or foreign currencies

Aave founder Stani Kulechov slams ECB and EBA over MiCA push to ban stablecoin yields and restrict DeFi access

ECB publishes “Central banks on-chain” mapping tokenized central bank money, deposits, securities and stablecoins

ECB selects Nexi and Deutsche Telekom as network providers for digital euro connectivity

Lagarde says she will step down as ECB president on 7 February 2027

Stuttgart Stock Exchange receives ESMA and ECB license for blockchain trading and settlement of tokenized securities

ECB's Isabel Schnabel calls for central bank money to move onchain, warning tokenized markets could rely on private or foreign currencies

Aave founder Stani Kulechov slams ECB and EBA over MiCA push to ban stablecoin yields and restrict DeFi access

ECB publishes “Central banks on-chain” mapping tokenized central bank money, deposits, securities and stablecoins

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More on ECB

ECB selects Nexi and Deutsche Telekom as network providers for digital euro connectivity

Lagarde says she will step down as ECB president on 7 February 2027

Stuttgart Stock Exchange receives ESMA and ECB license for blockchain trading and settlement of tokenized securities

ECB's Isabel Schnabel calls for central bank money to move onchain, warning tokenized markets could rely on private or foreign currencies

Aave founder Stani Kulechov slams ECB and EBA over MiCA push to ban stablecoin yields and restrict DeFi access

ECB publishes “Central banks on-chain” mapping tokenized central bank money, deposits, securities and stablecoins

ECB selects Nexi and Deutsche Telekom as network providers for digital euro connectivity

Lagarde says she will step down as ECB president on 7 February 2027

Stuttgart Stock Exchange receives ESMA and ECB license for blockchain trading and settlement of tokenized securities

ECB's Isabel Schnabel calls for central bank money to move onchain, warning tokenized markets could rely on private or foreign currencies

Aave founder Stani Kulechov slams ECB and EBA over MiCA push to ban stablecoin yields and restrict DeFi access

ECB publishes “Central banks on-chain” mapping tokenized central bank money, deposits, securities and stablecoins

The ECB is winning support for a ban on stablecoins issued jointly in the bloc and other jurisdictions

More coverage

Explore the topic

More on ECB

ECB selects Nexi and Deutsche Telekom as network providers for digital euro connectivity

Lagarde says she will step down as ECB president on 7 February 2027

Stuttgart Stock Exchange receives ESMA and ECB license for blockchain trading and settlement of tokenized securities

ECB's Isabel Schnabel calls for central bank money to move onchain, warning tokenized markets could rely on private or foreign currencies

Aave founder Stani Kulechov slams ECB and EBA over MiCA push to ban stablecoin yields and restrict DeFi access

ECB publishes “Central banks on-chain” mapping tokenized central bank money, deposits, securities and stablecoins

ECB selects Nexi and Deutsche Telekom as network providers for digital euro connectivity

Lagarde says she will step down as ECB president on 7 February 2027

Stuttgart Stock Exchange receives ESMA and ECB license for blockchain trading and settlement of tokenized securities

ECB's Isabel Schnabel calls for central bank money to move onchain, warning tokenized markets could rely on private or foreign currencies

Aave founder Stani Kulechov slams ECB and EBA over MiCA push to ban stablecoin yields and restrict DeFi access

ECB publishes “Central banks on-chain” mapping tokenized central bank money, deposits, securities and stablecoins

Comments

Total stats

How to Earn

More on ECB

ECB selects Nexi and Deutsche Telekom as network providers for digital euro connectivity

Lagarde says she will step down as ECB president on 7 February 2027

Stuttgart Stock Exchange receives ESMA and ECB license for blockchain trading and settlement of tokenized securities

ECB's Isabel Schnabel calls for central bank money to move onchain, warning tokenized markets could rely on private or foreign currencies

Aave founder Stani Kulechov slams ECB and EBA over MiCA push to ban stablecoin yields and restrict DeFi access

ECB publishes “Central banks on-chain” mapping tokenized central bank money, deposits, securities and stablecoins

ECB selects Nexi and Deutsche Telekom as network providers for digital euro connectivity

Lagarde says she will step down as ECB president on 7 February 2027

Stuttgart Stock Exchange receives ESMA and ECB license for blockchain trading and settlement of tokenized securities

ECB's Isabel Schnabel calls for central bank money to move onchain, warning tokenized markets could rely on private or foreign currencies

Aave founder Stani Kulechov slams ECB and EBA over MiCA push to ban stablecoin yields and restrict DeFi access

ECB publishes “Central banks on-chain” mapping tokenized central bank money, deposits, securities and stablecoins