The European Central Bank calls for stronger regulatory measures for non-EU stablecoins.

According to news from Hash World Chain, ECB President Lagarde recently called on policymakers to address the regulatory gaps concerning stablecoins, especially those issued outside the EU's "robust" regulatory framework for crypto assets (MiCA). In her prepared remarks for the ninth annual meeting of the European Systemic Risk Board, Lagarde stated that EU lawmakers should take appropriate measures regarding the issuance of stablecoins in collaboration between MiCA-regulated entities and non-EU entities; unless there is a "robust equivalent regulatory framework" in the country of issuance, including allowing EU investors to "always redeem their stablecoins at par value" and requiring issuers to fully back the issued stablecoins, such stablecoin issuers should not be allowed to operate in the EU. Lagarde stated: "Once a run occurs, investors will naturally tend to redeem in the jurisdiction with the strongest safeguards, which is likely to be the EU, as MiCA also prohibits redemption fees. However, the reserves held by the EU may not be sufficient to meet such concentrated redemption demands."

#Cryptocurrency Blockchain #Stablecoins MiCA #EuropeanUnion