Italy’s Minister of Economy and Finance, Giancarlo Giorgetti, has warned that US dollar-backed stablecoins pose a significant threat to the euro’s role in international payments. Speaking at an event in Milan, Giorgetti argued that US stablecoin policies are more dangerous for Europe than trade tariffs as these digital assets could weaken the euro’s influence over cross-border transactions. Giorgetti explained that US stablecoins enable Europeans to make cross-border payments and investments in US dollars without needing to open American bank accounts. He highlighted the growing appeal of these stablecoins among European users and urged EU lawmakers to take decisive action to strengthen the euro’s global position. He emphasized the importance of the digital euro, currently under development by the European Central Bank (ECB), which he believes will help reduce Europe’s reliance on foreign digital payment solutions and protect the eurozone’s monetary sovereignty. The concerns from Italy’s finance minister come as US lawmakers push forward with new stablecoin regulations. On April 2, the US House Financial Services Committee passed the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act. If enacted, this legislation will require stablecoin issuers to provide detailed information about their reserves and operations. Another bill, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, seeks to ensure that stablecoins are fully backed by reserves and comply with anti-money laundering rules. Both bills aim to reinforce the US dollar’s dominance in the global digital economy. Piero Cipollone, a member of the ECB’s Executive Board, echoed Giorgetti’s concerns in a recent article, calling for urgent action to counter the growing popularity of US stablecoins in Europe. He suggests that the launch of a central bank digital currency is crucial to safeguarding the euro’s future. Meanwhile, The US is exploring new ways to increase its Bitcoin reserves, including using tariff revenue and revaluing gold certificates. The administration is also developing a digital asset framework, aiming to position the US as a leader in cryptocurrency innovation. For more news on this subject, visit DeFi Planet”,