ECB Opposes Forcing Stablecoin Issuers to Hold 60% of Reserves as Bank Deposits

• —ECB opposes the 60% bank-deposit reserve rule for major stablecoin issuers
• —It warns banks would absorb stablecoin volatility and see deposits destabilized
• —Central banks propose short-term assets maturing in 1 and 5 business days instead
• —ECB says non-compliant crypto firms still reach EU clients despite MiCA