The European Union decision -makers discuss the improvement of efforts to introduce a digital euro, because the new American law on stablescoinds intensifies the pressure on the block to maintain the rapid rhythm of digital money, said the Financial Times, reported,
The US Congress last month approved the law on engineering law, a framework for the stablescoin sector of $ 288 billion dominated by tokens pointed out in dollars like USDT and Circle Internet from TETHER and CIRCLE (CRCL) USDC. The move has taken a lot in Europe out of Europe, according to people familiar with talks, and aroused concerns that tokens pointed out in dollars could tighten the grip of America on cross -border payments if the EU does not accelerate its own plans.
In a noticeable quarter of work, managers now weigh if the Central Bank’s digital currency must be launched (CBDC) On public blockchains like Ethereum or Solana rather than in the private infrastructure planned before.
Until recently, the European Central Bank (ECB) had leaned towards a private system and centrally controlled, citing confidentiality and security. But sources say that American legislation has changed the conversation, certain political decision -makers now open to decentralized networks that could help the euro circulate more freely and to compete with digital assets based on a dollar worldwide, according to the FT.
The ECB has been studying a digital euro for several years, presenting it as a public alternative to private payment systems as cash use decreases. However, the American dynamics fear that euros in euros can increasingly pass into assets denominated in dollars abroad.
China piloting its digital yuan and the United Kingdom by considering a digital book, Europe faces increasing pressure to deliver. A handful of stable stables supported by the euro already exist, the EURC de Circle among them, but a token issued by the bank would have much more weight.
The ECB has confirmed to the Financial Times that it always assesses centralized and decentralized technologies, leaving the possibility of a euro powered by blockchain as the civil servants take place to protect the relevance of the single currency in a digitizing world.
Read more: the ECB says that the use of the stable to support the United States in the EU could weaken its monetary autonomy
