European Regulators Propose Banning "Multi-Jurisdictional Issuance" Stablecoins, Led by the European Central Bank

BlockBeats News, October 1st, according to Bloomberg, the European Systemic Risk Board (ESRB) has proposed to ban "multiterritorial" stablecoins, referring to stablecoins issued simultaneously in the EU and other jurisdictions. This proposal was led by the European Central Bank (ECB). Although this proposal is not legally binding, it will exert pressure on national regulatory authorities to enforce relevant restrictions or explain how to ensure financial stability without adopting the ban.