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The European Commission, the executive branch of the EU, is reportedly considering easing its position on foreign-issued stablecoins by allowing them to be interchangeable with EU-issued tokens

The European Central Bank has strongly opposed the European Commission’s plan to allow foreign stablecoins, warning that such a move could trigger financial instability and put strain on EU banks during periods of market stress

The European Commission is weighing the possibility of relaxing rules on non-EU stablecoins to ensure the EU doesn’t become a “flyover zone” amid rapid progress in the U.S. and Asia.

Markets in Crypto-Assets regulation (MiCA) requires EU-issued stablecoin issuers to hold most reserves in EU-based banks and offer direct redemption rights in euros as of June 2025.

The European Commission’s consideration of easing rules on foreign-issued stablecoins could allow U.S. dollar-backed tokens like USDC and USDT to circulate freely within its market.

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