The Minister of Finance in Italy warns us that Stablecoins pose a greater threat to customs tariffs
The Minister of Economy and Finance in Italy has warned that the American Stablecoin policies relate to more than the tariff of President Donald Trump, noting that these encrypted assets will undermine the euro dominance in the cross -border payments.
Speaking at an event in Milan, Giancarlo Giogeletti said that although commercial definitions dominate the main headlines, the policies of the US -backed Stablecoins are a “more serious” threat to European financial stability, According to To Reuters report.
The American Stablecoins allows users to invest in a widely acceptable way to cross -border payments without opening an American bank account. He warned that the increasing call should not be reduced from the Stablecoins for the Europeans.
Giorgetti urged the European Union legislators to take more steps to enhance the euro position as an international currency. He added that the digital euro is under development by the European Central Bank (ECB) will be necessary to reduce the need for Europeans to resort to foreign solutions.
Nowadays, Stablecoin in the United States is still fragmented. Instead of a unified framework, the current multi -law agencies are applied to organize Stablecoins. However, legislators are implementing changes, with many stablecoin legislation. On April 2, the American Parliament’s Financial Services Committee approved Stablecoin’s transparency and accountability for the best Ledger (stable) law. The draft law is now heading to the house hall for full voting. The draft law was submitted on February 6 by the head of the French Committee Hill and the Chairman of the Sub -Committee for Digital Assets, Bian Steel. This will ensure that Stablecoin exporters provide information about their business, including how to support their codes. In addition, the US Stablecoin (Genius) national innovation law defines rules that require exporters to maintain backed reserves from individual, compatible with the anti -money laundering laws (AML), protect consumers and increase the dominance of the dollar in the global economy. The genius law still requires the approval of both the Congress rooms and the presidential signature before the law becomes. Related to: Stablecoins is the best way to ensure US dollar dominance – Web3 CEO Regardless of Giorgetti, European Central Bank Board of Directors urged European lawmaker to intensify their efforts to combat the dominance of the dollar -backed Stablecooin in Europe. On April 8, Cipolline wrote an article expressing his concerns about the increasing popularity of American Stablecoins. The official suggested launching a digital currency for the Central Bank to combat this threat to the euro. He said this would help maintain cash sovereignty in the euro area. https://www.youtube.com/watch? magazine: Mechanin is deviated from a pioneering anti -aging research
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