🚨 EU Prepares to Embrace Foreign Stablecoins — Big Win for USD-Backed Tokens? 🌍💶💵
In a surprising shift, the European Union is getting ready to greenlight foreign stablecoins, despite previous pushback from the European Central Bank. The upcoming guidance could officially recognize U.S. dollar-backed stablecoins as equivalent to EU-based ones — a move Moody’s says could reshape the digital euro market.
With the U.S. GENIUS Act gaining momentum, the pressure is on the EU to stay globally competitive in crypto regulation. ECB President Christine Lagarde has long warned about foreign stablecoin dominance — but tides may be turning.
Will this open the floodgates for USD stablecoins in Europe?