Digital assets – challenges for the competitiveness and integrity of the European Union’s financial system

3.7.2026 A10-0186/1

Amendment 1

Jonás Fernández, Aurore Lalucq, Pasquale Tridico, Iratxe García Pérez, Camilla Laureti, René Repasi, Francisco Assis, Javier Moreno Sánchez, Javi López, Leire Pajín, Hana Jalloul Muro, César Luena, Nacho Sánchez Amor, Nicolás González Casares, Rosa Serrano Sierra, José Cepeda, Elena Sancho Murillo, Marcos Ros Sempere, Idoia Mendia, Cristina Maestre, Juan Fernando López Aguilar, Laura Ballarín Cereza, Alicia Homs Ginel, Giuseppe Lupo, Carla Tavares, Pär Holmgren, Isabella Lövin, Kira Marie Peter-Hansen, Matthias Ecke, Jussi Saramo, Adnan Dibrani, Thijs Reuten, Nicola Zingaretti, Sandra Gómez López, Cecilia Strada, Thomas Bajada, Sara Matthieu, Elio Di Rupo, Lena Schilling, Ville Niinistö, Thomas Waitz, Alice Kuhnke, Nicolae Ștefănuță, Maria Guzenina, Raphaël Glucksmann, François Kalfon, Eric Sargiacomo, Brando Benifei, Nora Mebarek, Claire Fita, Emma Rafowicz, Murielle Laurent, Eero Heinäluoma, Tobias Cremer, Jean-Marc Germain, Chloé Ridel, Ana Catarina Mendes, Bruno Gonçalves, Irene Tinagli, Marta Temido, Thomas Pellerin-Carlin, Christophe Clergeau, Estelle Ceulemans, Lara Wolters, Mohammed Chahim, Niels Fuglsang, Marianne Vind, Elisabeth Grossmann, Nikos Papandreou, Evelyn Regner, Andreas Schieder, Sakis Arnaoutoglou, Stefano Bonaccini, Giorgio Gori, Annalisa Corrado, Pierre Jouvet, Costas Mavrides, Georgia Tramacere, Ufuk Kâhya, Kim Van Sparrentak, Tineke Strik, Erik Marquardt, Vivien Costanzo, Marco Tarquinio, Maria Ohisalo, Rasmus Andresen, Marie Toussaint

Report A10-0186/2026

Johan Van Overtveldt

Digital assets – challenges for the competitiveness and integrity of the European Union’s financial system

(2025/2208(INI))

Motion for a resolution

Paragraph 19 a (new)

Motion for a resolution

Amendment

19a. Notes with concern the continued rapid expansion and dominance of US dollar-denominated stablecoins, which could weaken the EU’s monetary sovereignty, increase financial stability risks, impair the transmission of monetary policy and reinforce external dependencies in payments;

Or. en

3.7.2026 A10-0186/2

Amendment 2

Report A10-0186/2026

Johan Van Overtveldt

Digital assets – challenges for the competitiveness and integrity of the European Union’s financial system

(2025/2208(INI))

Motion for a resolution

Paragraph 20

Motion for a resolution

Amendment

20. Welcomes the emergence of euro-denominated e-money tokens under MiCAR and encourages their development to support EU payment innovation, the competitiveness of the EU’s financial markets and the international role of the euro, including through faster and lower-cost cross-border payments, complementary to tokenised deposits and wholesale CBDC; stresses the importance of harmonised liquidity-risk and crisis-management frameworks, including redemption waterfalls and reserve-segregation requirements; notes that the ECB upholds that non-euro denominated stablecoins may pose risks to monetary policy if their usage becomes widespread; expresses caution about the misuse of the ‘reverse solicitation’ clause;

20. Notes the emergence of euro-denominated e-money tokens under MiCAR and their development, complementary to tokenised deposits and wholesale CBDC; notes that the ECB upholds that non-euro denominated stablecoins may pose risks to monetary policy if their usage becomes widespread; expresses caution about the misuse of the ‘reverse solicitation’ clause;

Or. en

3.7.2026 A10-0186/3

Amendment 3

Report A10-0186/2026

Johan Van Overtveldt

Digital assets – challenges for the competitiveness and integrity of the European Union’s financial system

(2025/2208(INI))

Motion for a resolution

Paragraph 21

Motion for a resolution

Amendment

21. Acknowledges the need for legal certainty in EU law regarding the possibility of the multi-issuance of stablecoins by an EU and a non-EU entity, where the digital stablecoins issued by both entities would be fully fungible and indistinguishable; recalls that the ESRB has warned for multi-issuance as a potential channel of contagion; stresses the need to ensure that the operation of such schemes in the EU is based on legal certainty and a robust regulatory framework providing strong prudential safeguards, robust cooperation arrangements and enhanced crisis management protocols; underlines the importance of promoting international coordination on the regulation and supervision of global stablecoins, with a view to developing international standards;

21. Recalls that the ESRB has warned that multi-issuance may be a potential channel of contagion and calls for those associated risks to be strictly mitigated; underlines the importance of promoting international coordination on the regulation and supervision of global stablecoins, with a view to developing international standards;

Or. en