The digital euro may work on ETHEREUM networks or Solana: Report star-news.press/wp

Encryption correspondent

Shalini Nagarajan

Encryption correspondent

Shalini Nagarajan

About the author

Shalini is an encrypted correspondent that provides in -depth reports on daily developments and organizational transformations in the encrypted currency sector.

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Last update:

August 22, 2025

European officials are moving faster on plans for the digital euro after Washington passed a comprehensive law in Stablecoin, many in Brussels see a threat to the competitiveness of the European Union’s individual currency.

According to Financial timesPeople close to the talks said that the transformation began after the United States agreed to direct and create the national innovation of Stablecoins in the United States, known as the genius law.

Since then, officials have been rethinking how to organize the European project.

Swift US Action on the pressure of encryption in the European Union to accelerate the plans

The genius law in the law, which signed a law in the law, signed the first comprehensive rules for the Stablecoin market of $ 288 billion.

Under the legislation, the exporters of the distinctive symbols of the dollar must fully reserves in liquid assets, meet the obligations of licensing and comply with strict reporting standards. Supporters argue that the frame enhances consumer protection while still leaves room for innovation, faced balance organizers to achieve it.

In Europe, the rapid transition from Washington has disturbed the politicians who were being submitting their project more cautious.

The debate grows on the general Blockchain in exchange for the private professor’s book of digital euros

According to the officials, officials discuss whether the digital euro should run on a group of public Blockchain such as Ethereum or Solana, a departure from the previous plans that tend to the notebook of the private professor’s book, which is controlled by the European Central Bank.

Supporters say that open Blockchain can allow the euro to circulate on a wider scale, while critics warn that public networks offer transactions to audit and increase privacy concerns.

Supporters argue that open Blockchain may expand the euro range beyond Europe

The European Central Bank began studying the idea of ​​the digital euro in October 2021. Since then, the project has been considered a digital currency of the Central Bank. Its purpose is to complete money and adapt to a more digital economy. In addition, it aims to ensure that Europeans continue to reach the central bank’s funds. Finally, it seeks to reduce dependence on foreign payment providers.

Today, international cards networks deal with most of the eurozone payments, as non -European companies dominate between 68 % to 72 % of transactions.

Officials are concerned that without a quick procedure, the American regulatory framework can accelerate the global demand for dollar -backed symbols. As a result, the role of the euro may gradually weaken the border payments.

The choice of design has a geopolitical weight. A special system run by the European Central Bank would reflect the Chinese Central Bank’s approach to the digital yuan, which is tightly controlled. On the contrary, the Blockchain euro, in contrast, would approach the model that private companies promote in the United States.

Some policy makers argue that the digital euro on open Blockchain can promote the currency access beyond the mass.

Others fear that the door will open the dangers that Europe has long tried to contain. At the present time, both options remain on the table, but the discussion gained urgency in the wake of Washington’s move.