๐บ๐ธ๐ต U.S. Stablecoin Law = ๐ EU Digital Euro Push
Congress passed the GENIUS Act โ a stablecoin framework โ and itโs jolting Brussels. ๐ช๐บ Officials fear dollar-pegged coins could dominate global payments unless Europe speeds up its digital euro plan.
๐ Whatโs new:
ECB had preferred a closed, centralized model (focus on ๐privacy + ๐ก๏ธsecurity).
Now, whispers say they may consider public blockchains (Ethereum, Solana) to stay competitive.
Pressure is rising: ๐จ๐ณ digital yuan pilots + ๐ฌ๐ง CBDC studies = Europe risks falling behind.
๐ถ While euro-stablecoins (like Circleโs EURC) exist, an ECB-issued token would carry global weight.
โก Why it matters: A euro CBDC on public chains could reshape settlement, liquidity, and the dollarโeuro balance in digital payments.
๐ฐ Source: FT via CoinDesk
