Italy’s Minister of Economy and Finance, Giancarlo Giorgetti, expressed concerns that US stablecoin policies could pose a greater risk to European financial stability than President Trump's tariffs. At an event in Milan, Giorgetti highlighted that US stablecoins offer a preferred method for cross-border payments, which may detract from the euro's dominance. He urged EU lawmakers to enhance the euro’s international standing and emphasized the importance of the digital euro currently being developed by the European Central Bank (ECB). Giorgetti’s remarks come amid US legislative efforts to create a regulatory framework for stablecoins, including the STABLE Act and GENIUS Act, aimed at ensuring transparency and compliance for stablecoin issuers. Alongside him, Piero Cipollone from the ECB also called for measures to counter the increasing popularity of US stablecoins, suggesting that a central bank digital currency could help maintain the eurozone’s monetary sovereignty.

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