European Regulators Target Circle and Paxos in Stablecoin Crackdown

TLDR European Systemic Risk Board recommends banning multi-issuance stablecoins in the EU Major stablecoin issuers like Circle and Paxos could face significant restrictions Regulators warn about financial stability risks during market downturns Dollar-pegged stablecoins dominate with 99% market share, while euro-backed tokens represent just 0.15% European banks plan to launch their own euro-backed stablecoin by [...]

The post European Regulators Target Circle and Paxos in Stablecoin Crackdown appeared first on Blockonomi.