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The European Union is set to greenlight foreign dollar-backed stablecoins, despite opposition from the European Central Bank. This shift is largely influenced by the impending U.S. stablecoin legislation, according to Moody’s analysts.
- The EU is set to permit foreign dollar-backed stablecoins, despite ECB opposition, marking a major policy shift.
- The GENIUS Act in the U.S. is pressuring the EU to adapt its crypto regulations to avoid falling behind globally.
- Analysts warn that strict EU crypto rules could isolate the bloc as a 'flyover zone' for digital asset activity.
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Related Tags: Stablecoin
Other Tags: Euro, US Dollar, Andrew Hayward, Christine Lagarde, EU, European Central Bank, European Union, Financial Times, Moody's