Phoebus Attanassiou

Multi-issuance schemes for payment stablecoins: an EU-US comparison

Comparing the recently adopted EU and US regulatory regimes on stablecoins, this article seeks to explain the legal approach, in those two jurisdictions, to the question of the legal feasibility of multi-issuance schemes, ie those involving the parallel circulation, in the EU and the US, of payment stablecoins of the same issuer, marketed as: (i) fungible (substitutable); and (ii) redeemable in either jurisdiction.