$WCT

#WCTToken Report: Brussels moves forward with stablecoin rules, ignoring European Central Bank warnings

The Financial Times reported on Wednesday that the European Commission is preparing to issue new regulatory rules for the rapidly growing stablecoin market in the coming days, despite warnings from the European Central Bank that these proposed rules could destabilize European banks during periods of market volatility.

According to the report, the executive arm of the European Union intends to issue official guidelines stating that stablecoins issued from outside the Union will be treated as interchangeable with those allowed to be traded within EU markets, provided they carry the same branding.