BlockBeats news, August 22, according to the Financial Times, sources revealed that the latest U.S. stablecoin legislation has raised concerns about the competitiveness of digital currencies in Europe, prompting EU officials to accelerate the planning of the digital euro. Last month, the U.S. Congress passed a landmark legislation known as the Genius Act, which regulates a stablecoin market worth $288 billion, primarily dominated by the U.S. dollar. One person involved in the discussions stated that EU officials have been 'reconsidering the plan for the digital euro' since the passage of the act.
Informed sources added that, for privacy reasons, officials are currently considering running the digital euro on public blockchains such as Ethereum or Solana, rather than the previously expected private blockchains.
