The U.S. stablecoin bill raises concerns as the EU accelerates its digital euro plan.

[Coin World] On August 22, according to data platforms citing the Financial Times, insiders revealed that the new stablecoin bill in the U.S. has raised concerns about the competitiveness of European digital currencies, prompting EU officials to accelerate planning for the digital euro. Last month, the U.S. Congress passed a landmark law—the Genius Act—regulating a stablecoin market worth $288 billion, primarily dominated by the dollar. One person involved in the discussions stated that since the passage of the act, EU officials have been "reconsidering the plans for the digital euro." Insiders added that for privacy reasons, officials are currently considering running the digital euro on a public blockchain, rather than the previously anticipated private blockchain.