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ECB Advisor: USD Stablecoins May Weaken Eurozone Monetary Policy Autonomy
Summary: According to CoinDesk, European Central Bank advisor Jürgen Schaaf has stated that widespread use of USD stablecoins in the EU could weaken the central bank's ability to regulate monetary policy, similar to challenges faced by dollarized economies. He noted that USDT and USDC currently hold over 80% of the stablecoin market share, with the market ...
According to CoinDesk, European Central Bank advisor Jürgen Schaaf has stated that widespread use of USD stablecoins in the EU could weaken the central bank's ability to regulate monetary policy, similar to challenges faced by dollarized economies. He noted that USDT and USDC currently hold over 80% of the stablecoin market share, with the market size potentially reaching $2 trillion after the implementation of the US Stablecoin Act. To address this trend, Schaaf recommends supporting the development of Euro stablecoins and emphasizes the importance of digital Euro in maintaining European monetary sovereignty. Data shows that the total market value of stablecoins globally has reached $271.8 billion as of July 19th, following the signing of the US legislation.
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Link: ECB Advisor: USD Stablecoins May Weaken Eurozone Monetary Policy Autonomy [Copy]
