欧州中央銀行（ECB）のクリスティーヌ・ラガルド総裁は金曜日、講演の中で民間発行のユーロペッグ型ステーブルコインの推進に対し慎重な姿勢を示し、欧州は中央銀行が裏付けとなるインフラの構築に注力すべきだと訴えた。
ラガルド総裁はマドリードで開催されたスペイン銀行のラテンアメリカ経済フォーラムで講演を行った。総裁は、現在3100億ドル規模の市場を占め、そのほぼすべてが米ドルに連動しているTetherやUSDCといった主要ステーブルコインがもたらすリスクを指摘した。同氏は、2023年のシリコンバレー銀行の破綻時にUSDCの価格が一時的にペッグから外れた例を挙げ、こうしたトークンは市場混乱時に資産市場へストレスを伝播させる可能性があると述べた。
X（旧Twitter）での初期の反応は、米ドルペッグ型ステーブルコインが金融安定性に及ぼすリスクに対するラガルド総裁の警告と、欧州独自の戦略の必要性に焦点が当てられた。多くの反響を呼んだ投稿では、EU内部での意見の相違が指摘されたほか、欧州の競争力に懐疑的な声や、ステーブルコインが米ドルの優位性を強める地政学的なツールであるとみなす意見も見られた。ジャーナリストやアナリストは、事実のまとめを共有するとともに、中央銀行が提供する代替手段の必要性を訴えた。
ECB PRESIDENT CHRISTINE LAGARDE CRITICIZES U.S. STABLECOIN MODEL, WARNS PRIVATE STABLECOINS THREATEN EUROPEAN FINANCIAL STABILITY
— The Wolf Of All Streets (@scottmelker) 2026年5月8日
🇪🇺 ECB Says NO to Stablecoins
— Crypto Patel (@CryptoPatel) 2026年5月8日
ECB President Christine Lagarde just declared stablecoins are NOT an efficient way to strengthen the Euro's global role.
Spoke at Banco de España LatAm Forum (May 8, 2026)
Key Points:
🔸 98% of stablecoins are USD-backed
🔸 Stablecoin market grew… pic.twitter.com/kIltibsVYZ
LAGARDE REJECTS US STABLECOIN PLAYBOOK FOR EUROPE
— BSCN (@BSCNews) 2026年5月8日
ECB President Christine @Lagarde pushed back against the case for euro-denominated stablecoins, arguing financial stability and monetary policy risks outweigh any benefit to the euro's international standing.
Speaking at the… pic.twitter.com/9YXIx6QnI1
The ECB 🇪🇺 President just admitted the euro is losing the digital-rails arms race to the US 🇺🇸
— Bitcoin Well (@bitcoinwell) 2026年5月8日
Christine Lagarde, on the record from the ECB's own account: "Stablecoins are not an efficient way to strengthen the international role of the euro. The best solution remains deeper… https://t.co/tTdTLKLc0L
Dollar stablecoins are becoming a geopolitical weapon.
— BlackIntus (@Blackintus) 2026年5月9日
And Europe is finally admitting it.
1/ ECB President Christine Lagarde warned that Europe should NOT copy the U.S. stablecoin model.
Translation:
Europe fears losing monetary control to dollar-backed crypto networks.
2/… pic.twitter.com/5mheDCg9Vb
AIによるレポート AIによって生成された画像
The US CLARITY Act has hit an impasse after major banks rejected a White House compromise limiting stablecoin yield rewards to peer-to-peer payments. This follows President Trump's recent criticism of banks and builds on stalled talks over incentives that crypto firms say are vital for innovation. Trump met with Coinbase CEO Brian Armstrong amid the deadlock.
A consortium of major European banks called Qivalis is holding advanced discussions with crypto exchanges and liquidity providers ahead of launching a euro-pegged stablecoin in the second half of 2026. The initiative aims to create a regulated alternative to U.S. dollar stablecoins for blockchain-based payments within the EU. Backed by bank deposits and sovereign bonds, the token seeks to enhance the bloc's autonomy in digital finance.
AIによるレポート
Leading economists gathered at a seminar hosted by the Egyptian Center for Economic Studies to discuss how digital currencies are reshaping the global financial landscape. They highlighted unprecedented challenges to monetary policy and the need for flexible regulatory frameworks. Speakers emphasized innovation opportunities alongside significant risks.
Analysts and investors say the Hong Kong Monetary Authority’s (HKMA) cautious issuance of only two stablecoin licences to traditional banks prioritises risk control but limits Hong Kong’s digital asset ambitions. The market had expected at least three licences for issuers from broader backgrounds.
AIによるレポート
Hong Kong's monetary authority has warned the public about fraudulent stablecoins masquerading as products from HSBC and HKDAP, exploiting trust in the recently licensed issuers amid the rollout of the city's stablecoin regime.
Major banks are turning to the Ethereum blockchain for projects involving tokenized deposits and cross-border payments, driven by a more favorable regulatory environment. Institutions like JPMorgan Chase, Citi and Custodia Bank have developed applications on Ethereum and its Layer-2 networks. This resurgence follows earlier efforts in the 2010s that largely stalled due to technical and investment challenges.
AIによるレポート
Tether, the issuer of the largest stablecoin USDT, announced a first-quarter net profit of $1.04 billion for 2026. The company's excess reserves reached a record $8.23 billion, with total assets nearing $192 billion against liabilities of about $183.5 billion. Reserves include significant holdings in U.S. Treasuries, gold, and bitcoin.