ECB President Lagarde on 18 December 2025 backs MiCA, warns on stablecoin reserves

On 18 December 2025, after the ECB's latest rate decision, Christine Lagarde outlined the bank's focus on stability, digital payments and stablecoins. She said a digital euro remains under review and must be simple, affordable, privacy‑respecting and usable offline, while noting MiCA enables oversight but reserve exposure in stablecoins could pose risks requiring vigilance by regulators.