{
  "id": 9156385,
  "title": "EU Central Banks Push to Eliminate Stablecoin Deposit Rule",
  "url": "https://urgent.news/2026/09/22/eu-central-banks-push-to-eliminate-stablecoin-deposit-rule",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T14:25:01.000Z",
  "source": {
    "name": "PYMNTS",
    "slug": "pymnts",
    "url": "https://www.pymnts.com/cryptocurrency/2026/eu-central-banks-push-to-eliminate-stablecoin-deposit-rule/"
  },
  "original_language": "en",
  "account": "The European System of Central Banks (ESCB) has released a report arguing against stablecoin deposit regulations outlined in Europe’s Markets in Crypto-Assets (MiCA) regulation. The ESCB, comprising the European Central Bank and central banks of 27 countries, warns that these requirements could leave banks vulnerable to a stablecoin run. Instead, the report proposes that MiCA require a minimum percentage of assets with maturities between one to five working days. The paper suggests that stablecoins can alter banks’ funding structures, replacing stable retail deposits with less stable and market-sensitive deposits from stablecoin issuers. This shift could result in a less stable funding structure for banks and a smaller aggregate deposit base, potentially impacting banks’ ability to provide credit to the economy. Additionally, the ESCB highlights the challenges regulators face in enforcing cryptocurrency regulations in Europe, as non-compliant crypto companies continue to have access to EU customers. These concerns extend to investor protection, market integrity, and the overall credibility of the regulatory framework. Meanwhile, the U.S. faces its own regulatory challenges, as the Clarity Act — aimed at establishing a crypto regulatory regime — failed to gain traction in the Senate, effectively positioning stablecoins as the presumed standalone regulated digital asset in the country. The decline of this bill has amplified the significance of recent developments in the crypto world, including the U.S. Securities and Exchange Commission's experiments with tokenized securities, Mastercard's efforts to introduce stablecoin capabilities, and Circle's blockchain infrastructure for machines. Each market is still in its early stages, and while stablecoins are gaining traction, they are likely to play a supporting role rather than replacing traditional settlement technologies.",
  "summary": "Europe’s central banks say stablecoin deposit regulations could mean less stability for lenders. The European System of Central Banks (ESCB) published a paper Tuesday (Sept. 22) in response to Europe’s Markets in Crypto-Assets (MiCA) regulation, which requires stablecoin issuers to hold 30% of their reserves as bank deposits, or 60% for major issuers. The ESCB — composed of […] The post EU…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}