The European Central Bank and EU central banks want Brussels to delete a MiCA rule requiring large stablecoin issuers to keep 60% of reserves in commercial banks, arguing the requirement could destabilize lenders and reduce liquidity management flexibility.
The European Central Bank launched Pontes, a new settlement platform allowing wholesale tokenized assets to be settled using central bank money rather than private stablecoins. The system is designed exclusively for regulated financial institutions.
European Central Bank President Christine Lagarde personally intervened to block Binance's bid for an EU-wide crypto license through Greece, according to the Wall Street Journal. Binance founder CZ criticized the decision on social media.
The ECB selected 36 payment service providers from across the euro area for a 12-month digital euro pilot scheduled to begin in the second half of 2027. The selection includes major banks like Deutsche Bank and fintech firms like Revolut as the central bank moves from planning into testing.
European Central Bank board member Isabel Schnabel stated that increased stablecoin use could reinforce the dollar's global dominance, undermine some nations' monetary policy autonomy, and diminish the role of the euro.
