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Investing.com - The European Commission plans to announce new regulations for the stablecoin market in the coming days, according to a Wednesday report by the Financial Times.
The European Union’s executive arm will issue formal guidance proposing that stablecoins issued outside the bloc be treated as interchangeable with same-branded versions permitted only on EU markets, the newspaper reported, citing people briefed on the contents.
The Commission is moving forward with these regulations despite warnings from the European Central Bank that the proposed standards could destabilize the region’s banks during periods of market volatility, according to the Financial Times.
The announcement of the guidance has been scheduled for the next few days, the newspaper reported, citing one unnamed source.
The new rules will impact the fast-growing stablecoin market, which has become an increasingly important segment of the cryptocurrency ecosystem in recent years.
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