Lorenzo Bini Smaghi, Chairman of Société Générale, advocates for Europe’s adoption of stablecoins to combat U.S. Dominance, warning of economic risks if Europe delays this technology.
Despite the strong trading of Ethereum at 2,503.31 USD, Europe’s presence in the stablecoin market remains minimal, falling under 1%. This raises concerns for future market influence.
Bini Smaghi criticizes current MiCA regulations, suggesting they hinder innovation as European banks view stablecoins as threats, thereby stifling potential developments.
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