ECB Seeks Tougher Crypto Rules Amid Stablecoin Concerns

The European Central Bank (ECB) has called for tougher EU crypto rules and curbs on dollar stablecoins, echoing its stance from earlier this year when it unveiled Pontes, a system for settling tokenised assets in central bank money.

In a response published by the European System of Central Banks, which groups the ECB with national central banks across the EU, the institution argued for stricter regulations on stablecoins, staking, and crypto firms.

The recommendations are not binding but will be taken into account during the European Commission's review of the Markets in Crypto-Assets Regulation (MiCA), the EU's rulebook for cryptocurrencies and trading platforms.

MiCA has been in effect since December 2024, with existing operators facing a July deadline to stop serving European customers. The Commission will consider the central banks' proposals alongside other responses before deciding whether to revise or reopen the law.