Summary
Stablecoin issuers in Europe will now need to be regulated as electronic money institutions, making many current stablecoins illegal for not following this regulation.
Key Points
1. The new rules will require stablecoin issuers to be regulated as electronic money institutions in Europe.
2. Stablecoins currently offered in Europe may be considered illegal if they are not authorized and regulated as e-money transmitters.
3. Jón Egilsson, co-founder and chairman of Monerium, highlighted the importance of complying with the new regulations to ensure legality and legitimacy in the stablecoin industry.