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Amid the US set to implement a stablecoin framework after passage of the GENIUS Act, EU officials are looking at the implications of foreign-issued stablecoins.<\/p>\n
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 \u201crobust\u201d Markets in Crypto-Assets (MiCA) framework in the European Union.<\/p>\n
In prepared remarks for the ninth annual conference of the European Systemic Risk Board on Wednesday, Lagarde \u200b\u200bsaid<\/a> EU lawmakers should take steps in situations where an entity covered under MiCA and a non-EU entity jointly issue stablecoins. <\/p>\n She added that such stablecoin issuers should not be allowed to operate in the EU unless there were \u201crobust equivalence regimes\u201d at the source, which included allowing EU investors \u201cto always redeem their holdings at par value\u201d and requiring issuers to fully back their coins.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n