ECB to Streamline Supervisory Guidance, UK FCA Reduces Stablecoin Capital Requirements

The European Central Bank (ECB) has announced a comprehensive reform agenda for European banking supervision, including an effort to streamline supervisory guidance by assessing all guides, reports, letters, and methodologies for relevance, effectiveness, and clarity. Separately, the UK Financial Conduct Authority (FCA) has proposed reducing the capital requirement for stablecoin issuers from 2 percent to 1 percent of the total value of their stablecoins, as part of a new framework for crypto assets.