Italian Finance Minister: US Stablecoin Policy More Dangerous Than Tariffs

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Summary

The Italian Finance Minister claimed that the US stablecoin policy could pose a significant risk to Europe's financial stability.
Minister Giancarlo Giorgetti emphasized that the digital euro project will be a key means to overcome this threat.
He stated that as the use of dollar-based stablecoins increases in Europe, measures are needed to strengthen the position of the euro.

The Italian Finance Minister emphasized the importance of the digital euro project, stating that the US stablecoin policy could pose a significant risk to the financial stability of the European Union (EU).

According to Cointelegraph on the 16th (local time), Giancarlo Giorgetti, the Italian Finance Minister, claimed that "the stablecoin policy is more dangerous than President Donald Trump's tariff policy," and that "the US stablecoin policy will become the greatest threat to Europe's financial stability."

He pointed out the increasing use of dollar-based stablecoins within Europe. Giorgetti stated, "Dollar-based stablecoins enable convenient global payments without a US bank account," and "the use of dollar-based stablecoins by many Europeans is gradually increasing." He explained that many Europeans are using dollar-based stablecoins, diminishing the appeal of the euro.

He further stated that additional measures are needed to strengthen the position of the euro. He urged the preparation of additional measures, including the digital euro, stating that "the digital euro promoted by the European Central Bank (ECB) will be a key means to move away from dollar-based stablecoins."