PANews reported on May 10 that CitizenX CEO Alex Recouso posted on the X platform that Europe is implementing capital controls, and Spain will impose a fine of 3,000 euros for failure to report cash withdrawals of more than 150 euros within 24 hours of notification. In response, Paolo Ardoino, CEO of stablecoin issuer Tether, said: "The atmosphere of the digital euro has intensified."