Markets.News
European policymakers are stepping up efforts to promote a digital euro following the approval of comprehensive legislation regulating the rapidly expanding stablecoin sector in the United States. This development in Washington has raised concerns in Brussels about the euro's future competitiveness against tokens backed by the dollar. The recently passed Genius Act in the US establishes a clear framework for the $288 billion stablecoin market, which is predominantly dominated by the dollar. In response to this, EU officials are now reconsidering design options for a potential digital euro. There are discussions about potentially utilizing a public blockchain like Ethereum or Solana instead of keeping it limited to a specific platform.