Why ECB President Christine Lagarde Rejects Europe’s Answer to the GENIUS Act
BeInCrypto
ECB President Christine Lagarde argues against creating euro-denominated stablecoins, favoring institutional infrastructure over private sector currency alternatives to maintain the euro's global relevance.Summary
ECB President Christine Lagarde has rejected calls for Europe to launch euro-denominated stablecoins as a response to the U.S. GENIUS Act. Lagarde contends that such private digital assets could destabilize eurozone bank funding and fail to bolster the euro's international status. Instead, she advocates for deepening capital market integration and developing public infrastructure, such as the Pontes and Appia initiatives, to facilitate on-chain settlement. While critics argue that the U.S. is successfully expanding dollar adoption through private stablecoins, the ECB maintains that public, regulated frameworks are the superior path for the euro's future.
(Source：BeInCrypto)