The President of the European Central Bank calls for risk treatment of Stablecoins other than the European Union star-news.press/wp

Christine Lagarde, President of the European Central Bank (ECB), calls on policy makers to address the gaps in the organization of Stablecoin, especially for those coming beyond the “strong” markets in the encrypted assets (MICA) in the European Union.

In notes prepared for the ninth annual conference of the European Regular Risk Council on Wednesday, LagardHe said The European Union lawmakers must take steps in the situations in which an entity covered under Mika and an entity other than the European Union are presented with the edition of Stablecoins.

She added that the Stablecoin Exporters should not be allowed to work in the European Union unless there are “strong equation systems” in the source, which included allowing investors in the European Union “to always recover their possession of the nominal value” and asks the exporters to support their entire currencies.

“In the event of employment, investors are naturally preferred to recover in the judicial state with the strongest guarantees, which are likely to be the European Union, as Micar also prohibits salvation fees,” Lagarde said. “But the reserves held in the European Union may not be sufficient to meet this concentrated demand.”

Stablecoin is an encrypted currency designed to maintain a stable value by linking it to the origin of the US dollar or the euro.

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The European Central Bank makers explore the potential treatment of the digital euro for years, but can be pressured through the laws and regulations of Stablecoin that the Trump administration in the United States.

The US Congress approved a law in July, where he created a frame for Stablecoins, which is likely to benefit from exporters of US coins.

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((US government policies) can only lead to more losses in fees and data, but also in the euro deposits that are transferred to the United States and in additional strengthening of the role of the dollar in the cross -border payments, ” He said European Central Bank Board of Directors in April.

The United States, the European Union and China are competing for the Stablecoin market?

Amid a law implemented in policy makers in the United States and the European Union, taking into account the best front path to treat Stablecoins, China may also consider a backed currency.

Reports from August indicated that the Chinese government was considering the presence of Stablecoin linked to the Renminbi currency after the start of the digital yuan. As of Monday, officials have not confirmed whether the country will pressure for the state’s Stablecooin in response to the efforts made by the United States to enhance the role of the dollar.

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