Italian Economy Minister: The potential impact of US stablecoins on Europe far exceeds tariffs, calling for the promotion of digital euro confrontation

Italian Economy Minister Giancarlo Giorgetti warned that the potential impact of the US stablecoin policy on Europe goes far beyond trade tariffs, because the popularity of stablecoins threatens to weaken the euro's status as an international reference currency and will pose a long-term threat to the EU's financial sovereignty. (Synopsis: U.S. and EU tariff negotiations stalled, bitcoin fell below $84,000, U.S. stocks lower) (Background supplement: European Central Bank: plans to launch a digital euro in November 2025!) Can be used offline for payment, no handling fee) US President Donald Trump's recent rounds of tariffs have triggered turmoil in global financial markets and deepened investors' concerns about the global economic outlook. However, according to Reuters, Italian Economy Minister Giancarlo Giorgetti said at an asset management event in Milan this week that the potential impact of the US stablecoin policy on Europe goes far beyond trade tariffs and should attract greater attention: There is widespread concern about the impact of trade tariffs. More dangerous, however, is the new U.S. policy toward cryptocurrencies, especially dollar-denominated stablecoins. The development of the digital euro should be accelerated Giorgetti pointed out that dollar-denominated stablecoins provide European citizens with a convenient way to pay for cross-border transactions without opening an account with a US bank, which is not only attractive to economies with unstable currencies, but may even affect eurozone residents. He warned that the popularity of stablecoins could weaken the euro's status as an international reference currency and pose a long-term threat to the EU's financial sovereignty. In addition, Giorgetti also pointed out that US President Donald Trump's commitment to deregulate cryptocurrencies and further promote the development of stablecoins will exacerbate this risk. In response to the challenge, Giorgetti therefore urged the EU authorities to take proactive measures, including strengthening the role of the euro in global payments and accelerating the development of the European Central Bank's (ECB) digital euro. He stressed that the digital euro allows EU residents to open accounts directly with the ECB for online payments, store purchases or transfers, reducing dependence on foreign payment options. He said: "The digital euro is essential to ensure European payment sovereignty. European Stablecoin Regulation and Digital Euro Progress In terms of stablecoin regulation, the European Union formally implemented the Comprehensive Crypto Asset Markets Act (MiCA) in June 2024, which sets strict capital requirements and transparency norms for stablecoin issuers with the aim of protecting consumers and maintaining financial stability. However, the implementation of MiCA has been slightly slow due to inconsistent coordination among Member States, and some countries are still adapting their domestic regulations to meet the framework requirements. As for the digital euro, the ECB has officially launched research since 2020 and is currently in the preparatory stage (November 2023 to October 2025), focusing on finalizing protocol regulations, selecting service providers, learning through experimentation and further research on offline capabilities, testing and go-live plans. According to the latest ECB developments, the digital euro is expected to allow residents to hold digital wallets, conduct secure, low-cost payment transactions directly, and partner with local payment service providers. It is currently expected that the digital euro may be launched in November 2025, possibly after the completion of the relevant legislative process. Related stories The digital euro is coming? ECB officials urge: issuing CBDCs can avoid "payer monopoly" ECB releases summary of the results of the work of "Digital Euro Prototyping"! Trial as soon as this autumn Digital Euro threatens to "fully monitor people's payments"! As soon as October on the road CBDC "Italian Minister of Economy: The potential impact of US stablecoins on Europe far exceeds tariffs, calling for the promotion of digital euro confrontation" This article was first published in BlockTempo "Dynamic Trend - The Most Influential Blockchain News Media".