According to CoinMeta, Wu said that the European Banking Authority (EBA) published its response to the consultation on revisions to the regulations regarding multi-issuer stablecoins and crypto assets, suggesting that the EU should focus on strengthening the regulation of such assets and crypto lending. The EBA believes that the current regulatory frameworks are generally appropriate, but multi-issuer stablecoins may pose higher risks, and therefore recommends strengthening the rules and reviewing the requirements for reserve assets. It also suggests clarifying the scope of application and asset classification standards for these stablecoins, as well as bringing crypto lending under regulation, including activities where crypto service providers facilitate users' access to lending agreements. As of September 1st, there were 39 such stablecoins issued under the existing framework, with no licenses granted yet.