The European Systemic Risk Board (ESRB) has proposed a ban on stablecoins issued simultaneously in the EU and other jurisdictions. This recommendation, led by the European Central Bank (ECB), aims to address potential financial stability risks associated with such multi-jurisdictional issuances. Although the proposal is not legally binding, it is expected to pressure national regulators to either implement the suggested restrictions or clarify how they will ensure financial stability without adopting the ban.