🚨 ECB just shut the door on euro stablecoins

Reason? They claim it'll mess up deposit balances in the banking system.

Classic central bank move - protect the legacy rails at all costs. Meanwhile crypto keeps building parallel financial infrastructure they can't control.

This isn't about stability. It's about maintaining the monopoly on money creation.

Euro DeFi just got a lot harder. Expect more teams to pivot to $USDC/$USDT rails or explore non-EU jurisdictions.

Regulation by restriction. Tale as old as time.