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EU Bank Regulator Says Existing Crypto Rules Cover Stablecoins, Warns of Gaps Ahead
ECB says existing EU crypto rules cover stablecoins but warns of oversight gaps, especially for foreign issuers.
The European Central Bank (ECB) has indicated that the current regulatory framework under the Markets in Crypto‑Assets Regulation (MiCA) already provides safeguards for stablecoins and crypto service providers across the EU. However, the ECB cautioned that parts of the ecosystem — particularly foreign issuers and cross-border flows — remain under-regulated and could pose a systemic risk.
The regulator urged stronger equivalence regimes for non-EU stablecoins and more proactive oversight of crypto asset service provider licensing. (Reuters)