The Central Bank of Italy calls on the EU to regulate cross-border stablecoins.

The Bank of Italy, through Deputy Governor Chiara Scotti, calls on the European Union to establish clear and consistent regulations for cross-border stablecoins. At the central banking conference in Rome, Scotti emphasized that ambiguous regulations could create legal, operational, and financial stability risks.

She noted that stablecoins issued outside the EU but can be exchanged within the bloc need specific guidance to protect users and the market. The European Commission and the European Central Bank have not reached a consensus on multinational issuance: the Commission believes that current laws may allow for cross-border token exchanges, while the ECB warns that this could threaten financial stability without clear regulations.

Scotti calls for the timely enactment of laws or standards to prevent weak systemic factors. The issue highlights the challenge of balancing cryptocurrency innovation and legal assurance in the EU.