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The European Central Bank sets monetary policy and banking supervision for the eurozone and is developing a digital euro to rival private payment systems.
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ECB board member Isabel Schnabel set out three ways to put central-bank money on-chain, two of which leave the reserves off the ledger. Her slides stop short of picking a model, so builders of tokenized-securities venues have to plan for three different cash legs.
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Circle told the European Commission that only 3 of the world's top 25 stablecoins are authorized under MiCA, in its response to the law's review. Circle issues two of the three, and it ties the gap to bank-deposit and concentration rules it wants loosened.
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Friedrich Merz will meet Klaas Knot and Pablo Hernandez de Cos, the two frontrunners to succeed Christine Lagarde, as three ECB posts fall vacant. People familiar said Berlin has dropped Joachim Nagel and is weighing the chief economist and markets seats instead.
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Aave founder Stani Kulechov says the ECB and EBA want the Commission's MiCA review to ban stablecoin yield and tighten DeFi access. By his account, EU providers would keep DeFi access only for users who pass suitability tests, and perhaps only to protocols the authorities certify.
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Scope Ratings held the US at AA- and said interest costs will carry debt toward 160% of GDP by 2036 while the primary deficit stays near 3.5%. That makes the forecast depend on Treasury yields and on how the post-midterm Congress handles the debt limit.
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Euro-area firms are paying for AI without new debt, ECB survey data shows, while the five largest US tech firms carry $3 trillion in debt. That keeps European balance sheets out of a cooling AI bond market, but the compute gap with the US still has to be closed some other way.
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Europe's central banks asked Brussels to extend MiCA's stablecoin interest ban to lending and staking, a move a campaign says 50,000-plus citizens opposed. A ban that reaches borrower-paid returns could leave euro-regulated tokens unable to match perks offered by dollar stablecoins.
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US 10-year Treasury yields hit 5.34% on 1 October, the highest since 2002, in a selloff Reuters partly ties to AI and data-centre construction. For teams that borrow to build, AI's own investment is part of why markets expect rates to stay high into 2027.
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Stand With Crypto EU got more than 50,000 Europeans to write to the Commission's MiCA review asking that stablecoins be allowed to pay holders rewards. Europe's central banks used the same review to ask that the ban also cover lending, borrowing and staking yield, so the rule could end up wider as easily as looser.
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France says its new budget will overshoot EU spending limits and lift debt to a record near 122% of GDP, even after 54 billion euros of cuts. Lenders now face a ratio still climbing into next year's presidential election, with candidates split on how to bring it down.
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BIS data on 130 economies show stablecoin flows rise with currency stress, as dollar deposits do, while appearing less affected by capital controls. Turkey's roughly $38 billion of lira swapped into stablecoins in a year shows how large that harder-to-block channel already is.
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Eurozone businesses must accept the digital euro by 2029, a free payment option aimed at the 47% of card payment value that Visa and Mastercard process. Adyen, a pilot member, says merchant demand is still thin, so the networks are likelier to feel it in their fees before their share.
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AllUnity, co-founded by Deutsche Bank's DWS, launched USDAU, a MiCA-regulated US dollar stablecoin, on six blockchains. Dollar tokens already hold more than 99% of a $291 billion stablecoin market, the segment AllUnity enters from a base of small euro and Swiss franc coins.
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Gucci is making its newest $1,000 sneakers in China at a factory it picked for technological know-how, ending a 105-year Italian tradition. Chinese supplier capability has already cut into German carmakers' sales in China and now reaches a European luxury house, so far through a single shoe.
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ECB policymakers on 24 September authorised a feasibility study of joining TIPS to Pix, Brazil's network of about 250 million daily transfers. With no live date set, any saving over correspondent banks rests on how payment providers price the currency conversion left to them.
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A 52.5-47.5 refusal to reopen accession talks shuts the quickest route to euro alignment for a small open economy, and it happened in a country with no army while the US president was threatening Greenland.
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Brent topped $105 and the 10-year touched 4.902 per cent in the same session. The cash operation blamed for the yield move would cover about 1.5 basis points of annual interest on the debt it was meant to steady.
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Philip Lane's September projections have euro-area inflation averaging 3.0% in 2026 and peaking at 3.6% in the fourth quarter, above the 2.50% policy rate the ECB set on the same day it upgraded growth.
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Thirteen banks including Deutsche Bank and Santander went live on September 21 with four ledger operators, and the ECB will put part of its own 23 billion euro portfolio into tokenised public sector debt.
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The ECB's September 22 submission to the Commission's MiCA consultation asks for the deposit percentages to go, with reserve assets instead having to mature within one to five working days. Significant token issuers currently park 60% in banks.
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