ECB Warns Stablecoins Threaten Euro Zone Stability

The European Central Bank warns of potential risks from stablecoins, digital currencies with a steady value. Stablecoins growing popularity, with over $280 billion market value, poses concerns for traditional banks and global financial stability. The ECB fears stablecoins could draw retail deposits away from banks and cause sudden asset sales, disrupting U.S. Treasury markets and potentially increasing financial instability in the EU.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.