ECB executive: Digital euro will limit the use of stablecoins in Europe
European Central Bank is stepping up its warnings on stablecoins, with a senior official calling for the introduction of a digital euro to curb the influence of stablecoins pegged to the dollar on the European continent. European Central Bank Executive Board member Piero Cipollone wrote another article emphasizing concerns about the increasing popularity of dollar-pegged stablecoins. He believes that the introduction of a central bank digital currency (CBDC) will help maintain the monetary sovereignty of the euro area, and a potential digital euro "will limit the possibility of foreign currency stablecoins becoming a common medium of exchange within the euro area." These remarks are part of a series of similar public statements made by Cipollone. He has been actively advocating for the introduction of a digital euro as a strategic move to counter the dominance of dollar-pegged stablecoins in Europe.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
[Initial Listing] Bitget Will List Planck (PLANCK) in the Innovation, AI and DePIN Zone
Buy PLAI,Get 100% fee rebate in PLAI!
Bitget to support loan and margin functions for select assets in unified account
Bitget launches cross margin trading for BGB/USDT and BGB/USDC
