They also exchanged views on the way forward regarding ongoing OECD discussions about digital taxation. The Council reached agreement on two reforms of existing VAT rules. The new rules will make it easier for Member States to detect tax fraud in cross-border e-commerce transactions, while reducing administrative burdens and compliance costs for small enterprises to encourage them to grow and trade across borders. Ministers also reached a provisional agreement on measures to improve the business environment for trade in goods subject to excise duties. The Council issued a recommendation to the European Council on the nomination of Isabel Schnabel as its candidate to replace Sabine Lautenschläger on the executive board of the European Central Bank. The Presidency informed ministers about a draft joint statement of the Council and the Commission on stablecoins, cryptocurrencies that attempt to peg their market value to some external reference, to be agreed at the December ECOFIN meeting. Based on a presidency discussion paper, ministers of finance and education held a public debate on the importance of human capital as the foundation of Europe’s welfare. In addition, ministers adopted Council conclusions on EU statistics, received a presentation by the European Fiscal Board on its 2019 annual report and were debriefed on recent international meetings (G20 finance meeting and IMF annual meetings).