ECB President Lagarde Questions the Case for Euro Stablecoins — Says They Won't Strengthen Currency's International Appeal

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European Central Bank president Christine Lagarde publicly pushed back against euro-denominated stablecoins, arguing they are not an effective mechanism for strengthening the euro's international appeal. The statement signals that the ECB's regulatory posture may not favor private stablecoin issuance in the eurozone, potentially creating headwinds for European crypto firms. This contrasts sharply with the US approach where Kraken just filed for a national trust charter and acquired stablecoin infrastructure.