Reported about 15 hours ago
Lorenzo Bini Smaghi, a former ECB board member, cautions that Europe's absence in the growing stablecoin market, primarily dominated by US dollar-backed tokens, could undermine its financial influence. In a Financial Times piece, he highlights the EU's existing regulatory framework which supports crypto assets but notes the euro's limited presence due to hesitance from banks and policymakers. He urges European regulators to embrace euro stablecoins to enhance the region's monetary sovereignty and modernize payment systems, warning that inaction could lead to Europe's marginalization in global finance.
Source: YAHOO