European Banking Authority: There is currently no urgent need to revise crypto rules related to stablecoins.

Despite warnings from the European Central Bank (ECB) and the European Systemic Risk Board (ESRB) regarding the potential threat stablecoins pose to financial stability, the European Banking Authority (EBSA) maintains that existing EU regulations on cryptocurrencies are sufficient to address these risks. An EBSA spokesperson acknowledged the risk of “potentially large-scale redemption requests” but emphasized that the magnitude of the risk depends primarily on the stablecoin issuer's operating model and business scale.