On November 13, the European Banking Authority (EBA) said that the European Union's current cryptocurrency regulation, the Crypto Asset Market Regulation Act (MiCA), has adequately addressed the risks associated with stablecoins and does not require urgent amendments.
Although the European Central Bank (ECB) and the European Systemic Risk Board (ESRB) have previously warned that stablecoins could pose a threat to financial stability and called for a ban on the "multiple issuance" model, the EBA maintains that existing rules provide the necessary tools to manage liquidity and redemption risks.
An EBA spokesperson said that while acknowledging the ESRB's concerns about the risks of "large-scale redemption requests", these risks largely depend on the way stablecoin issuers operate and the size of their businesses. Under the MiCA Act, stablecoin issuers must maintain adequate reserves, meet transparency obligations, and be subject to regulatory oversight.
The European Banking Authority: Existing cryptocurrency regulations are already capable of addressing stablecoin risks and do not require urgent amendments
2025-11-13 01:05:13
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