European Systemic Risk Board Press Release
The European Systemic Risk Board (ESRB) has published a report on three issues central to the crypto-asset ecosystem: stablecoins, crypto-asset investment products and multi-function groups. In particular, the report emphasises the risks stemming from stablecoins issued jointly by EU and non-EU entities.
- Report calls for close monitoring of growing links between crypto sector and the traditional financial system
- ESRB concerned by financial stability risks from stablecoins, especially those issued jointly in EU and third countries
- ESRB issues Recommendation urging public authorities to tackle risks arising from third-country multi-issuance schemes
Link:
ESRB Press Release