The Global Shift Towards Crypto-Friendly Regulations.

The recent banking crisis has highlighted the need for e-money institutions to have direct access to central bank accounts, allowing them to shield customers from the credit risk of private banks and eliminate exposure to risks associated with uninsured deposits. Granting regulated fiat stablecoins access to central bank accounts would not only be crucial for the safety of fiat currencies on the internet, but also for payments innovation writ large. The EU should take advantage of the opportunity to make its financial system more competitive and resilient by allowing e-money institutions to access central bank accounts directly.