Digital Euro
Lagarde warns europe against copying us stablecoin model
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European Central Bank President Christine Lagarde cautioned against promoting privately issued euro-pegged stablecoins during a speech on Friday. She urged Europe to focus on central bank-backed infrastructure instead.
The European Parliament’s Economic and Monetary Affairs Committee voted to advance a legal framework for a digital euro on Tuesday. The move sets the stage for trilogue negotiations and a potential rollout by 2029.
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EU finance ministers and the ECB discussed ways to bolster euro-denominated stablecoins during a meeting in Nicosia last week. Officials expressed concerns that dollar-backed tokens could weaken European banks and monetary policy control. The ECB rejected proposals for relaxed liquidity rules or central bank backstops.