European regulators recommend banning "multi-jurisdictional" stablecoins, led by the European Central Bank

ChainCatcher news, according to Bloomberg, the European Systemic Risk Board (ESRB) has passed a proposal to ban "multi-jurisdictional" stablecoins, which are stablecoins issued simultaneously in the EU and other jurisdictions, led by the European Central Bank (ECB).

Although the proposal is not legally binding, it will put pressure on national regulators to implement related restrictions or explain how to ensure financial stability without adopting the ban.