Share this article
ECB Wants to Be Able to Veto Stablecoins Like Diem in the EU
The ECB believes it should have the final say ahead of any proposed stablecoin launches.
Updated Sep 14, 2021, 12:15 p.m. Published Feb 23, 2021, 12:34 p.m.
The European Central Bank (ECB) is seeking the power to veto launches of stablecoins in the eurozone.
STORY CONTINUES BELOW
- The European Union laid out plans to create a comprehensive framework on rules around digital assets in September.
- The ECB now believes it should have the final say ahead of any proposed stablecoin launches, such as the Facebook-backed diem (formerly libra), Reuters reported Tuesday.
- According to the ECB, such stablecoin issuers should meet "rigorous liquidity requirements" on cash reserves similar to money market funds.
- The assessment of the risk that stablecoins pose to financial stability in the eurozone should "fall within the exclusive competence of the ECB," the central bank said in an opinion dated Feb. 19.
- The ECB is currently investigating the possible development of a digital euro, aiming to completed the project in no more than five years.
See also: Digital Euro Will ‘Protect’ Eurozone From Foreign Issuers, Says ECB Exec
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto CEOs Join U.S. CFTC's Innovation Council to Steer Market Developments
The chief executives of firms such as Gemini and Kraken will pitch in on U.S. policy efforts through the council's future, public discussions.
What to know:
- In her final days atop the agency, Commodity Futures Trading Commission Acting Chairman Caroline Pham announced her CEO Innovation Council, replete with crypto executives.
- The names include the chief executives from Gemini, Kraken, Polymarket, Bitnomial and several others.
- The CFTC is expected to get its permanent chairman very soon when the Senate votes on the confirmation of Mike Selig, President Donald Trump's nominee.
Top Stories
