The European Banking Authority believes that stablecoins can exist and innovate responsibly, alongside CBDCs and other payment devices, subject to the implementation of some sensible guardrails.
As part of its work on the digital euro, the European Commission has proposed a definition and regulation for ‘legal tender’ of euro coins and banknotes, as seemingly this has never previously existed in official legislation.
As part of its work on the digital euro, the European Commission has proposed a definition and regulation for ‘legal tender’ of euro coins and banknotes, as seemingly this has never previously existed in official legislation.
The European Banking Authority believes that stablecoins can exist and innovate responsibly, alongside CBDCs and other payment devices, subject to the implementation of some sensible guardrails.
The European Union's Distributed Ledger Technology (DLT) Pilot Regime, effective from March 23, 2023, established a controlled environment for trading and settlement using Distributed Ledger Technology. Our Observer summarized the key points of the new regulation
New EU legislation aiming to regulate data sharing by IoT devices and services sets impossible compliance standards for smart contracts, making Web3 developers uneasy.
The European Union's upcoming MiCA Regulation is set to impose strict requirements on stablecoins, and issuers will be required to meet a range of criteria to ensure compliance. MiCA has two categories for stablecoins, so close in their definitions, that distinctions are difficult to spot.
Although the European Central Bank is still undertaking its investigative stages concerning a potential Euro-Zone CBDC, it already seems to be tying itself in knots trying to limit potential disruption to the status quo as far as commercial banks are concerned.
