Something I don't understand is whether they're trying to completely ban the stablecoins they can't control in the EU, or just prevent EU exchanges holding and transacting in them.
If an EU citizen is found to be holding these coins after the sell-only window expires, will they face confiscation, fines or imprisonment ? What happens if an EU citizen buys or sells some of these stablecoins from an exchange based outside the EU, or holds them on a wallet provided by a business outside the EU ?