🇪🇺 ECB’s Stablecoin Ban: A Euro-Sized Headache for US Firms? 😱
Whispers from the corridors of power, as reported by the ever-vigilant Bloomberg, reveal that this idea sprouted from the fertile minds of the European Systemic Risk Board (ESRB). Last week, they proposed to ban these “multi-issuance” stablecoins, a term as cumbersome as the regulation itself. Though not yet law, the suggestion has been nodded to by the grandees of banking and the mandarins of the EU. Local authorities, it seems, are now faced with a choice: to ban or to explain. A choice, one might add, as pleasant as choosing between a rock and a hard place. 🪨🌍


