🇪🇺 The European Central Bank is sounding the alarm — the growing popularity of stablecoins could drain deposits from banks and weaken economic lending.
In its new report, the ECB notes that the more actively people move their money into digital “dollars” and “euros,” the harder it becomes for banks to issue loans and conduct effective monetary policy.
Simply put, stablecoins are gradually taking a slice of the traditional banking system — and regulators are far from pleased about it.