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Position paper from the Crypto Assets regulation working group
16 September 2025
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The rapid development of stablecoins, 99% of which are in dollars, raises strategic questions for Europe: the competitiveness of the financial sector, the autonomy of monetary policy, the protection of savings and the sound financing of businesses call for an in-depth analysis of the impact of stablecoins on Europe's financial stability and sovereignty. In this document, the working group on cryptoasset regulation offers an initial analysis of these developments and puts forward a number of recommendations.
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