ECB rejects looser euro stablecoin rules over bank risks as tokens hold 0.3% of supply
Reuters •
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Promote with Leviathan NewsThe ECB pushed back at an EU finance-policy meeting after Bruegel proposed easing liquidity rules for stablecoin issuers and potentially giving them access to ECB funding. Lagarde and other central bankers argued a bigger euro stablecoin market could drain bank deposits, raise funding costs, reduce lending, and make rate transmission harder. The fight is the core EU tradeoff: stablecoin supply grew roughly a third to $300B last year, but euro tokens are still only 0.3% of supply while Brussels worries tougher MiCAR rules could push activity offshore and deepen digital dollarization.
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- ECB Pushes Back on Looser Euro Stablecoin Rules, Citing Banking ... (x.com)
- ECB Rejects Euro Token Push Over Bank Lending Risks (mexc.com)
- ECB Rejects Proposal to Loosen Euro Stablecoin Regulations (binance.com)
- ECB Blocks Push To Ease Euro Stablecoin Reserve Rules (coinmarketcap.com)
- [PDF] Stablecoins and monetary policy transmission (ecb.europa.eu)
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