26-6-2025 – The European Commission, the EU’s primary executive arm, has adopted a notably lenient approach towards stablecoins, igniting a wave of optimism across the cryptocurrency sector.
The Commission’s position, articulated with confidence, dismisses fears of potential bank runs triggered by stablecoin multi-issuance across Europe and beyond as “highly improbable.” A spokesperson for the Commission elaborated, asserting that even in the remote scenario of a mass redemption event affecting a jointly issued token, the brunt of such demands would likely fall outside the EU, particularly in regions like the United States, where the majority of token circulation and reserve holdings are concentrated.
This relaxed outlook from Brussels carries profound implications for the digital currency landscape, heralding a significant triumph for industry advocates. Local observers have hailed the Commission’s stance as a pivotal moment, fostering a more accommodating environment for stablecoin operations within the EU.
In contrast, the ECB has sounded a more apprehensive note. In a non-paper released in April, the central bank cautioned that a multi-issuance framework for stablecoins, spanning both EU and non-EU jurisdictions, could undermine the bloc’s prudential safeguards for electronic money token (EMT) issuers. The ECB warned that such a system might expose EU issuers to heightened risks, potentially leaving them with insufficient reserve assets under EU oversight to meet redemption demands from token holders worldwide.
