EU Watchdog Urges Ban on Multi-Issuance Stablecoins to Ensure Stability

TLDR The European Systemic Risk Board has recommended a ban on multi-issuance stablecoins to protect the EU’s financial stability. The proposal targets stablecoins issued jointly within the EU and in other jurisdictions, such as Circle and Paxos. The European Central Bank has raised concerns over the regulation of non-EU stablecoins and potential risks to the [...]

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