EU risk watchdog calls for urgent safeguards on stablecoins

FRANKFURT (Reuters) -The European Union's financial risk watchdog called on Thursday for urgent safeguards on stablecoins only partly issued in the bloc, echoing a warning from the European Central Bank, which is worried that their failure could induce a run on reserves. Stablecoins are a type of cryptocurrency designed to hold a steady value by being pegged to a reserve asset such as a currency or basket of assets. The EU has put in place one of the world's strictest regimes on crypto assets but polic ...