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[Music] hello im stephanie tower never miss the bitcoin beat this is cranky paul [Music] our top story some european states call for digital currency regulations for monetary policy and sovereignty germany france italy spain and the netherlands are calling on the european commission to create strict regulation for asset-backed digital currencies in a joint statement their finance ministers say stable coins should not be allowed to operate in the 27 eu member block until legal regulatory and oversight challenges have been addressed the five countries want all stable coins to be pledged at a ratio of one is to one with fiat currency with reserve assets denominated in the euro or other currencies of eu member states and deposited in an eu-approved institution it adds the regulatory framework for stable coins should address risk for monetary policy including consumer protection the european commission is expected to present its regulatory proposal later this month stablecoins is a type of