According to internal news, the EU is speeding up its plans for the digital euro. This move is a response to the recent passage of the stablecoin regulatory bill in the United States and concerns in Europe about its digital money competitiveness.

Sources reveal that since the passage of the U.S. 'Genius Act', EU officials have been reassessing the strategy for Digital Money. Notably, officials are considering establishing the Digital Money on a public blockchain, such as Ethereum or Solana, instead of the previously planned private chain. This shift is primarily driven by concerns over privacy issues.

The European Central Bank has been researching the creation of a digital version of the euro for many years, aiming to provide a free-to-use digital currency for the entire eurozone. Supporters believe that this central bank-supported digital payment method can not only meet public demand as cash usage declines but also enhance the global influence of the euro.

EU officials are concerned that the new regulations in the United States will further promote the use of the US dollar stablecoin, and therefore they believe that the launch of a digital euro is crucial to maintaining the euro's dominant position in Europe. A knowledgeable source indicated that this has sparked discussions that had never occurred before the passage of the 'Genius Act'.

If the decision is made to issue a digital euro on a public blockchain, its global circulation and usage will be greatly enhanced. However, due to the complete transparency of transactions on public chains, privacy issues remain an important factor that officials need to weigh.

It is reported that using public blockchains 'has become a direction that EU officials are now seriously considering'. However, there are also opinions that if the digital euro is launched through a private framework, its model will be closer to the digital renminbi of the People's Bank of China, rather than the practices of private companies in the United States.

This series of discussions and considerations reflects the EU's strategic adjustment in the field of Digital Money, demonstrating Europe's efforts to seek balance and innovation in the global fintech competition. The final form of the digital euro will have a profound impact on the financial landscape of Europe and the world.