Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
ECB president calls to address risks from non-EU stablecoins

ECB president calls to address risks from non-EU stablecoins

CryptoNewsNetCryptoNewsNet2025/09/03 23:45
By:cointelegraph.com

Christine Lagarde, president of the European Central Bank (ECB), is calling for policymakers to address gaps in stablecoin regulation, particularly for those issued beyond the “robust” Markets in Crypto-Assets (MiCA) framework in the European Union.

In prepared remarks for the ninth annual conference of the European Systemic Risk Board on Wednesday, Lagarde ​​said EU lawmakers should take steps in situations where an entity covered under MiCA and a non-EU entity jointly issue stablecoins.

She added that such stablecoin issuers should not be allowed to operate in the EU unless there were “robust equivalence regimes” at the source, which included allowing EU investors “to always redeem their holdings at par value” and requiring issuers to fully back their coins.

“In the event of a run, investors would naturally prefer to redeem in the jurisdiction with the strongest safeguards, which is likely to be the EU, where MiCAR also prohibits redemption fees,” said Lagarde. “But the reserves held in the EU may not be sufficient to meet such concentrated demand.”

A stablecoin is a cryptocurrency designed to maintain a stable value by pegging it to an asset like the US dollar or the euro.

ECB policymakers have explored the potential rollout of a digital euro for years, but could be pressured by stablecoin laws and regulations pushed by the Trump administration in the US.

The US Congress passed a law in July establishing a framework for stablecoins, likely benefiting issuers of US-pegged coins.

Related: EU exploring Ethereum, Solana for digital euro launch: FT

“[The US government’s policies] could potentially result not just in further losses of fees and data, but also in euro deposits being moved to the United States and in a further strengthening of the role of the dollar in cross-border payments,” said ECB executive board member Piero Cipollone in April.

US, EU and China competing for the stablecoin market?

Amid a law set to be implemented in the US and EU policymakers considering the best path forward to address stablecoins, China may also be looking at a yuan-backed coin.

Reports from August suggested that the Chinese government was considering a stablecoin pegged to its renminbi currency following the slow rollout of a digital yuan. As of Monday, officials had not confirmed whether the country would push for a state-issued stablecoin in response to efforts by the US to strengthen the dollar’s role.

Magazine: Can privacy survive in US crypto policy after Roman Storm’s conviction?

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

South Korean regulators intervene as competition grows in crypto lending

Share link:In this post: South Korean financial authorities have announced the implementation of new “virtual asset lending service” guidelines. The new user protection measures include mandatory online training and eligibility tests for first-time users, with lending limits set based on trading experience. South Korea’s top financial regulator had crypto exchanges suspend new digital asset lending services weeks ago, citing risks and regulatory clarity needs.

Cryptopolitan2025/09/05 18:30

Sora, Robot Consulting unveil billion-crypto treasury plans in big Asia push

Share link:In this post: Sora Ventures launched Asia’s first Bitcoin treasury fund with plans to buy $1 billion in BTC within six months. The fund pools $200 million in commitments to support and expand Bitcoin treasury strategies across Asia and beyond. Robot Consulting announced plans to invest up to ¥1 billion in Ethereum as part of its legal technology strategy.

Cryptopolitan2025/09/05 18:30

SEC and CFTC to host joint roundtable on crypto regulation September 29

Share link:In this post: The SEC and CFTC have announced their planned coordination to support crypto, DeFi, prediction markets, perpetual contracts, and portfolio margin. They want to reduce regulatory gaps, expand trading hours, and use innovation exemptions to keep US markets competitive. A joint roundtable on regulatory harmonization will be held on September 29, 2025.

Cryptopolitan2025/09/05 18:30
SEC and CFTC to host joint roundtable on crypto regulation September 29

Dialogue with BlackRock CEO Larry Fink: AI and Asset Tokenization Will Reshape the Future of Investing

BlackRock CEO Larry Fink shared the company's development journey, emphasized that risk technology is at the core of its culture, discussed trends in AI and asset tokenization, and described his shift in perception of bitcoin—from criticism to recognizing its value as a hedging tool. Summary generated by Mars AI This summary was generated by the Mars AI model, and its accuracy and completeness are still being iteratively updated.

MarsBit2025/09/05 18:30
Dialogue with BlackRock CEO Larry Fink: AI and Asset Tokenization Will Reshape the Future of Investing