Titanium Media App reported on July 11 that the European Central Bank said that before stablecoins pose a risk to financial stability, they must urgently strengthen supervision. The European Central Bank said in a macroprudential communiqué on Monday that financial stability risks posed by stablecoins remain limited in the euro zone for now, but that could change in the future if growth trends continue at their current pace. With some stablecoins already playing a key role in providing liquidity to the cryptocurrency market, there could be significant spillover effects if the major stablecoins collapse. The European Central Bank has warned of a domino effect if the links between digital assets and the traditional financial system continue to expand.
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