A day after unveiling Pontes, its system for settling tokenised assets in central bank money, the ECB has set out how it wants Europe’s crypto rulebook rewritten.

The response, published on Tuesday by the European System of Central Banks, which groups the ECB with the EU’s national central banks, argues for tougher rules on stablecoins, staking and crypto firms.

It feeds into the European Commission’s review of the Markets in Crypto-Assets Regulation, known as MiCA, the EU’s rulebook for cryptocurrencies and the firms that trade them.

MiCA has applied since December 2024, and the last transitional deadline for existing operators expired on 1 July, including Binance, the world’s largest exchange,…