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

This own-initiative report concerns digital assets and the competitiveness and integrity of the Union's financial system. Amendments note the concentration of stablecoins in two dollar-denominated tokens (USDT and USDC) and the small euro-denominated market, call for targeted MiCAR amendments to support euro stablecoins, and address multi-issuance risks flagged by the ESRB. They cover tokenisation and the DLT pilot regime, a wholesale central bank digital currency and the digital euro, supervision by the EBA, ESMA and other authorities, anti-money-laundering concerns, and the Eurosystem's Appia roadmap for tokenised finance.