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Bruegel, a Brussels-based think tank, presented a policy paper at an informal meeting of EU finance ministers in Nicosia, Cyprus.
The ECB strongly opposes granting euro stablecoin issuers access to central bank funding facilities.
KEY POINTS
- Euro-denominated stablecoins make up just 0.3% of global supply, despite Europe conducting 38% of transactions.
- Bruegel's policy paper proposes loosening liquidity requirements for euro stablecoin issuers to boost competitiveness.
- EU regulators are debating tighter redemption controls for US- and EU-issued stablecoins to prevent reserve runs.
- Lagarde favors tokenized finance anchored by central bank money over expanding stablecoin support.
COMPANIES
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