MiCA Stablecoin Resolution: Europe’s Missing Crisis Rule
Europe regulates stablecoin reserves and redemption, but a systemic nonbank token still lacks a dedicated failure regime. The SRB explains why resolution is the…
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Regulation, reserve design and financial-stability implications of stablecoins used at systemic scale.
MiCA’s Stablecoin Reserve Rule Turns Safety Into Bank Funding Risk
Europe’s stablecoin reserve rule may protect token redemptions while making bank funding less stable. The ECB wants liquidity measured by maturity instead.
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UK Stablecoin Regulation: Why Innovation Still Protects Bank Credit
Britain wants stablecoins to scale, but the Bank of England’s £40 billion guardrail shows that redemption, bank funding and credit still set the boundary.
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Stablecoin Yield Is Becoming a Deposit Competitor—Even When Issuers Cannot Pay Interest
Stablecoin rewards are repricing transaction balances, bank deposit beta and funding competition—even when issuers cannot pay interest directly to token holders.
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Stablecoin Reserves and Treasury Liquidity: Why Digital Dollars Cannot Fix the Bond Market
Stablecoin issuers are becoming major buyers of Treasury bills, but the August 19 bond-market intervention shows why digital-dollar reserves cannot solve every liquidity problem—and…
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