The European Commission stated that there is no need for significant adjustments to the Crypto Assets regulations to address stablecoin risks.

According to Ha Shilian News, the European Commission stated that current Crypto Assets regulations are sufficient to address stablecoin risks. Following the European Central Bank's call for more safeguards, the Commission believes no major adjustments are necessary. Europe has launched landmark Crypto Assets-specific legislation, but Brussels lawmakers are under pressure from the European Central Bank to stop the "multi-jurisdiction issuance" stablecoin model.
The focus of the controversy is whether multinational stablecoin companies can consider the tokens issued within the EU as interchangeable with those held outside the EU. On Tuesday, six cryptocurrency industry associations, including Circle, sent a letter to the European Commission calling for guidance to confirm the multi-jurisdictional issuance model and clarify its operation under the Markets in Crypto Assets Regulation (MiCA). A spokesperson for the European Commission stated that MiCA provides a strong and proportionate framework to address the risks of stablecoins and is working to provide clarifications as soon as possible. The European Systemic Risk Board noted that the multi-jurisdictional issuance structure carries inherent risks, while the European Central Bank expressed concerns about triggering a reserve run, and stablecoin issuers claimed they have sufficient reserves to meet redemptions.

#Circle Crypto Assets #欧盟 blockchain #stablecoin