The Swedish central bank released a research report on stablecoin policies, indicating that the regulatory paths in the US and Europe are gradually converging

The Swedish central bank (Riksbank) released a research report indicating that despite different regulatory frameworks, the US and Europe are gradually showing substantial convergence in stablecoin policies.

The report focuses on three major dimensions of central bank policies: whether stablecoin issuers are allowed to access settlement systems, whether central bank reserves can be used as collateral, and whether liquidity support can be obtained. Currently, while the US and Europe legally allow the use of central bank reserves, there are still operational restrictions. The European Central Bank has allowed some non-bank payment institutions to hold central bank account balances for transaction flows, but has not relaxed the use of stablecoin backing.