ECB Calls for Tougher Crypto Rules Amid Stablecoin Concerns
The European Central Bank has called for stricter oversight of stablecoins, staking, and crypto companies under the Markets in Crypto-Assets Regulation (MiCA). The response, issued by the European System of Central Banks on September 22, 2026, aims to reinforce MiCA's existing rules.
The central banks seek to maintain a ban on offering interest on stablecoins, citing concerns about circumvention through supplementary or unregulated offerings. They also propose extending the prohibition to indirect incentives like loyalty-programme perks.
The response highlights the potential risks of tokens tied to foreign currencies, recommending that authorities be able to enforce bans and redemption requirements for issuers deemed to pose a risk to financial stability.
The ECB supports transferring licensing and oversight of crypto firms from national regulators to ESMA, the EU's markets watchdog. This shift is expected to impact exchanges like Binance, which has faced compliance issues in the past.