US Genius Law. UU. It shakes the EU to rethink the euro digital strategy: FT



The policy formulators of the European Union are discussing the efforts to increase to introduce a digital euro since the new Stablecoin law of the United States intensifies the pressure on the block to maintain the pace in the world of fast digital money, the Financial Times reported, the Financial Times reported

Last month, the United States Congress approved the Genius Law, a framework for the Stablecoin sector of $ 288 billion dominated by dollars such as the USDT and Circle Internet of Tether (CRCL) USDC The measure took many to fall in low consumption, according to people familiar with conversations, and caused concerns that tokens with clown dollar could adjust the United States control in cross -border payments if the EU does not accelerate their own plans.

In a remarkable shift, officials now weigh whether to launch the digital currency of the Central Bank (CBDC) in public blockchains such as Ethereum or Solana instead of previously provided private infrastructure.

Until recently, the European Central Bank (ECB) He had inclined towards a centrally controlled private system, citing privacy and security. But the sources say that US legislation has changed the conversation, with some policy formulators now open to decentralized networks that could help the euro to circulate more freely and compete with digital assets based on dollars worldwide, according to the FT.

The ECB has been studying a digital euro for several years, presenting it as a public alternative to the payment systems issued in private as the use of cash decreases. However, the impulse of the United States is raising concerns that Euro Euro deposits could flow more and more assets called dollars abroad.

With China piloting its Yuan Digital and the United Kingdom considering a digital pound, Europe faces increasing pressure to deliver. There are already a handful of stablcoins backed by the euro, the EURC of Circle among them, but a Token issued in the Central Bank would entail much more weight.

The ECB confirmed to the Financial Times that it is still evaluating centralized and decentralized technologies, leaving open the possibility of a euro with a blockchain motor while officials run to protect the relevance of the single currency in a digitalizing world.

Read more: the CCE says that the use of stable in the EU backed by the United States could weaken its monetary autonomy



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