European Central Bank President Christine Lagarde has called on EU lawmakers to close regulatory loopholes concerning foreign stablecoin issuers. Speaking at a regulatory meeting on September 3, Lagarde emphasized the need for these issuers to implement "safeguards" and "strong equivalent regulatory systems" to mitigate the risk of reserve runs. She stressed that stablecoin operations within the EU should be contingent on equivalent regulatory frameworks in other jurisdictions and appropriate asset transfer safeguards. Lagarde highlighted the necessity of international cooperation to prevent risks from shifting to weaker regulatory environments.