European policymakers are intensifying efforts to advance a digital euro after the United States approved sweeping legislation regulating the fast-growing stablecoin sector.
The move in Washington has heightened concerns in Brussels about the euro’s long-term competitiveness against dollar-backed tokens, The Financial Times reported on Friday.
The new US law, known as the Genius Act, establishes a clear framework for the $288 billion stablecoin market, which remains heavily dollar-dominated.
Following its passage, people close to the talks say EU officials are revisiting design choices for a potential digital euro, even debating whether to build it on a public blockchain such as Ethereum (CRYPTO: ETH) or Solana (CRYPTO: SOL) rather than keeping it restricted to …