{"id":430509,"date":"2025-06-23T16:18:42","date_gmt":"2025-06-23T14:18:42","guid":{"rendered":"https:\/\/www.eunews.it\/2025\/06\/23\/lagarde-stablecoin-rischi-vulnerabilita\/"},"modified":"2025-06-23T18:41:55","modified_gmt":"2025-06-23T16:41:55","slug":"lagarde-stablecoins-an-unexplored-terrain-possible-systemic-risks-and-vulnerabilities","status":"publish","type":"post","link":"https:\/\/www.eunews.it\/en\/2025\/06\/23\/lagarde-stablecoins-an-unexplored-terrain-possible-systemic-risks-and-vulnerabilities\/","title":{"rendered":"Lagarde: “Stablecoins an unexplored terrain, possible systemic risks and vulnerabilities”"},"content":{"rendered":"

Brussels – Not only trade tensions and geopolitical instability, but also\u00a0cryptocurrencies<\/strong>, the digital currencies parallel to the current ones, are starting to weigh on financial and economic stability. An element that the European Central Bank and its president, Christine Lagarde, are looking at with concern<\/strong>. “With the foundations of global equilibrium under pressure, the international financial system is also entering uncharted territory,” Lagarde acknowledged during the hearing in the\u00a0<\/span><\/span><\/span>Economic Affairs Committee<\/a>\u00a0of the European Parliament, and in this context “a key element of this evolving landscape is the rapid rise of cryptocurrencies and stablecoins<\/strong>.”<\/span><\/span><\/span><\/p>\n

Stablecoins are digital currencies pegged to the value of another asset, such as gold or a real currency. “Currently,\u00a099 per cent of stablecoins are denominated in US dollars<\/strong>,” Lagarde points out. In essence, it is the US that directs the market for these new means of payment. Stablecoins “often serve as an entry point to crypto-assets and facilitate crypto-asset trading,” thanks to a value that is considered stable and reliable. In this way, stablecoins “attract users by promising faster and cheaper corporate and retail cross-border payments.”<\/p>\n

The economy is moving on tracks that undermine the euro’s ambitions to be a reference currency. “For now, risks to euro area financial stability from cryptocurrencies appear limited<\/strong>,” Lagarde assures.<\/span><\/span> However, she warns, “the rapid pace of developments, coupled with data gaps that could create blind spots<\/strong>, calls for closer monitoring<\/strong>.” Not least because in their current state, “<\/span><\/span><\/span>stablecoins are privately issued and pose in particular risks to monetary policy and financial stability,” the ECB President further warns. Stablecoins must therefore “be governed by sound rules, especially when operating internationally”. That is, if the US wants to.<\/span><\/span><\/span><\/p>\n

Trump’s cryptocurrencies scare the EU. The Eurogroup seeks countermeasures<\/a><\/p><\/blockquote>\n