EU officials are considering issuing a digital Euro on public blockchains such as Ethereum or Solana.

August 22nd. As per the Financial Times, sources disclosed that the latest stablecoin legislation in the US has given rise to concerns regarding the competitive stance of the European digital currency. European Union officials are expediting the planning of the digital euro. Last month, the US Congress passed a landmark Genius Act to regulate the $288 billion market dominated by the US dollar in the stablecoin market. A person involved in the discussions indicated that since the enactment of this legislation, EU officials have been "reconsidering the plans for the digital euro." The sources further added that due to privacy concerns, officials are currently contemplating running the digital euro on public blockchains like Ethereum or Solana instead of the previously anticipated private blockchain.