EU plans to ignore ECB warnings and push forward new stablecoin regulations

PANews reported on June 25 that the Financial Times reported that the European Commission will announce new rules for the fast-growing stablecoin market in the coming days, rejecting the European Central Bank's warning that the new rules could threaten the stability of regional banks during periods of market volatility. The new guidelines will make it clear that stablecoins of the same brand issued outside the EU can be interchangeable with versions permitted in the EU market, thus filling the gap in EU law in the field of cryptocurrencies. Previously, European Central Bank President Lagarde warned that stablecoins could pose risks to monetary policy and financial stability, calling for strict supervision when operating across borders. Despite this, the European Commission still insists on promoting relevant rules, emphasizing that risks are controllable, and recommends that national regulators conduct their own assessments and strengthen safeguards.