European Commission's positive stance on stablecoins sparks optimism in the industry

From Cointelegraph

June 26, 2025 9:34:00 AM:

The European Commission takes a positive stance on stablecoins, dismissing ECB concerns of bank run risks. Commission believes risks are unlikely due to token redemptions happening in the US. This marks a significant win for the industry. ECB warned joint stablecoin issuance with third countries could weaken EU’s prudential regime and financial stability.

Commission’s analysis finds significant barriers to wider adoption of foreign stablecoins in the euro area. MiCA regulation discourages large foreign issuers from registering in Europe. Tether, issuer of USDT, refused to comply with MiCA requirements. Risks of joint stablecoin issuance can be managed with existing policies and a rebalancing mechanism.

Commission’s approach to joint stablecoin issuance with other countries is seen as positive and a relief by industry experts. They advocate for fungible treatment of locally and internationally issued coins to maintain cross-border usability. Enforcing jurisdictional silos would undermine this key feature and degrade user experience within the EU.

Read more at CoinTelegraph: EC’s Soft Tone On Foreign Stablecoins Sparks Optimism