October 2025: ESRB publishes report on systemic risks from crypto-assets and issues recommendation on stablecoins

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