The European Central Bank warns of encryption reforms in Europe of financial instability in Europe
- The European Central Bank is concerned about US encryption reforms, saying it may lead to financial instability in Europe.
- Amid these increasing concerns, the European Commission rejected the warnings.
European Central Bank (European Central Bank) to caution From possible repercussions of excessive American support for the encryption industry. According to the bank, the increase in dollar -backed Stablecoins can destabilize the financial system in Europe.
The expansion of the backed Stablecoins is the expansion of the total access of the dollar through the use of financial technology.
The European Central Bank also requested to review the regulatory framework of the markets in regulating cryptocurrencies (MICA) for encrypted communications. Anxiety revolves around the extra European markets with Stablecoins in dollars due to US reforms.
The central bank is also concerned that this step can lead to a lot of European money that flows into American assets. If this happens, the banks will eventually expose the liquidity risks.
European Union officials defend the framework of mica
Amid these increasing concerns, the European Commission rejected the warnings. A European Union official states that the current mica framework is strong enough to manage Stablecoin risk regardless of American policies.
The aforementioned policies were Stablecoin’s transparency and accountability for a better economy for the Professor’s book (Stable), and to guide and create the national innovation of Stablecoins (Genuis). Both projects focus on the expansion of the encoding fingerprint of the United States.
The European Central Bank has also warned that the European exporters can cross the paths with redemption from the European Union, as well as the owners of foreigners without more strict restrictions. This will also ignite financial operation and damaged institutions.
In this regard, co -founder and executive director of the trading strategy, Miko OhtamaaHe was published on X, saying that anxiety is justified. The European Union had the first engine feature with the list, but they retreated.
He also stated that there is no stablecoin in the European Union in the race around the world due to the bases restricted to Mika, which are affected by the pressure on bank financing and inheritance.
The news of the encryption was highlighted today:
The cryptocurrency is dominated in the South Korea market, and it exceeds the stock market
