Eurosystem approves new payments oversight framework


The European Central Bank’s governing council has approved a new oversight system for eurozone payments instruments and arrangements, including stablecoins, it announced on November 22.

The Eurosystem of eurozone central banks will now adopt the “payment instruments, schemes and arrangements”, or ‘Pisa’, framework, the ECB said. The new system will complement forthcoming European Union regulations on crypto assets and on international standards for global stablecoins.

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