PANews reported on September 3rd that, according to Jinshi Data, European Central Bank President Christine Lagarde stated at a regulatory meeting on September 3rd that EU lawmakers should require foreign stablecoin issuers to adopt "safeguards" and "strong equivalent regulatory systems" to prevent the risk of reserve runs. She emphasized that such programs can only operate within the EU if they are supported by equivalent systems in other jurisdictions and relevant asset transfer safeguards. Lagarde noted that this highlighted the importance of international cooperation and warned that without a fair global regulatory environment, risks would shift to the weakest links.PANews reported on September 3rd that, according to Jinshi Data, European Central Bank President Christine Lagarde stated at a regulatory meeting on September 3rd that EU lawmakers should require foreign stablecoin issuers to adopt "safeguards" and "strong equivalent regulatory systems" to prevent the risk of reserve runs. She emphasized that such programs can only operate within the EU if they are supported by equivalent systems in other jurisdictions and relevant asset transfer safeguards. Lagarde noted that this highlighted the importance of international cooperation and warned that without a fair global regulatory environment, risks would shift to the weakest links.
ECB President calls for closing EU stablecoin regulatory loopholes
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PANews reported on September 3rd that, according to Jinshi Data, European Central Bank President Christine Lagarde stated at a regulatory meeting on September 3rd that EU lawmakers should require foreign stablecoin issuers to adopt "safeguards" and "strong equivalent regulatory systems" to prevent the risk of reserve runs. She emphasized that such programs can only operate within the EU if they are supported by equivalent systems in other jurisdictions and relevant asset transfer safeguards.
Lagarde noted that this highlighted the importance of international cooperation and warned that without a fair global regulatory environment, risks would shift to the weakest links.
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