The European Union (EU)’s banking supervisor has addressed stablecoin risk concerns of other major regional regulators following the recent push for stricter crypto regulations in the bloc.

Europe Banking Regulator Addresses Stablecoin Concerns

On Wednesday, the European Banking Authority (EBA) addressed the European Central Bank (ECB) and the European Systemic Risk Board (ESRB)’s concerns about financial instability risk related to stablecoins.

According to Reuters, the region’s banking supervisor affirmed that the bloc’s Market in Crypto Assets Regulation (MiCA), the EU’s comprehensive framework for cryptocurrencies, already has safeguards against risks posed by stablecoins.

As reported by Bitcoinist, the ECB is pushing for stricter regulations, including a ban on multi-issuance

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