ESM Chief Warns Unregulated Stablecoins Threaten Global Financial Stability

Pierre Gramegna, Managing Director of the European Stability Mechanism (ESM), has issued a strong warning about the potential risks posed by unregulated stablecoins. He argued that these digital assets could destabilize global finance if left unchecked. Speaking in Washington, Gramegna emphasized the need for robust regulation to prevent financial contagion and safeguard the stability of financial systems during crises.