The European Commission will take over the regulation of stablecoins and their issuers

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Vice-President of the European Commission Valdis Dombrovskis said that the issue of strengthening control of the stablecoin market will be resolved in future legislation.

On Friday, the finance ministers of Germany, France,Italy, Spain and the Netherlands have expressed their concerns about the risks associated with the impact of stablecoins on the financial stability and monetary sovereignty of the EU. In an effort to allay officials' concerns, Valdis Dombrovskis organized a press conference at which he announced that provisions for regulating stablecoins and their issuers would be added to future legislative proposals.

According to him, although the current regulations do not take into accountcontrol of the risks associated with payments using stable coins, but in the near future this issue will be fully resolved. While adding that the European Commission will act in a balanced manner and regulate innovation from the inside, not from the outside, since crypto assets offer a lot of opportunities.

The framework for control under development is expected to include regulation of digital assets, both at the state level and at the EU level.

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