European Central Bank President calls for filling EU stablecoin regulatory loopholes

PANews reported on September 3 that according to Jinshi data, European Central Bank President Lagarde said at a regulatory meeting on September 3 that EU lawmakers should require foreign stablecoin issuers to adopt "safeguard measures" and "strong equivalent regulatory system" to prevent the risk of reserve runs. She stressed that such programs can only operate within the EU if they are supported by reciprocal systems in other jurisdictions and related asset transfer safeguards. Lagarde pointed out that this highlights the importance of international cooperation and warns that risks will turn to the weakest link if there is a lack of a fair global regulatory environment.