TechFlow news, September 3 — According to Jinshi Data, ECB President Lagarde said on Wednesday that EU lawmakers should require foreign stablecoin issuers to adopt "safeguards" and "robust equivalent regulatory regimes" to prevent reserve runs within the European Union.
She stated at a regulatory conference: "European legislation must ensure that such schemes cannot operate within the EU unless supported by strong equivalent regimes in other jurisdictions and safeguards related to asset transfers between EU and non-EU entities."
She added: "This also highlights why international cooperation is indispensable. Without a level global regulatory playing field, risks will always find the weakest link."
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