EU officials are accelerating plans for a digital euro, according to people involved in the discussions, after a new US stablecoin law deepened worries about the competitiveness of a European digital currency.
The US Congress last month passed a landmark law overseeing the $288bn stablecoin market, which is largely dominated by the dollar, after extensive lobbying by the crypto industry.
Stablecoins are a type of digital token pegged one-to-one to a sovereign currency and backed by reserves such as government bonds.
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