According to ChainCatcher, the European Central Bank warns that the rise of stablecoins could undermine monetary policy in the Eurozone. The European Central Bank points out that the early dominance of the dollar in stablecoins gives the United States an advantage, potentially increasing borrowing costs in Europe, weakening the autonomy of the European Central Bank, and increasing dependence on the United States.
European Central Bank Warns Stablecoins May Affect Eurozone Monetary Policy
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