面对美国在稳定币立法上的迅速推进，欧盟正在重新评估并加速其数字欧元计划，以捍卫欧元的竞争力 和欧洲的金融主权。 据英国《金融时报》8月22日报道，参与讨论的人士透露，美国国会上月通过的旨在监管2880亿美元稳 定币市场的《Genius Act》法案，已在布鲁塞尔和法兰克福引发震动。该法案促使欧盟官员产生紧迫 感，认为必须加快行动。 欧盟官员近期一直在"重新考虑数字欧元的计划"。知情人士表示，美国这项法律的快速通过"让很多人 感到震惊"，并补充道："他们在说，'让我们加快速度，让我们努力'。" 同时，这一紧迫感正推动一个重大的技术路线转变。欧盟官员现在正更认真地考虑在以太坊或Solana等 公共区块链上运行数字欧元。此举与此前因隐私顾虑而倾向于使用私有区块链的预期形成鲜明对比。 美元主导的担忧 美国在稳定币领域的立法进展，加剧了欧洲决策者对美元主导地位的长期忧虑。目前，稳定币市场绝大 部分由美元计价的代币构成，由Circle和Tether等加密货币公司运营，而花旗和摩根大通等美国传统金融 巨头也在考虑发行自己的稳定币。 欧洲央行执行董事会成员Piero Cipollone在今年四月曾警告，美国政府对美元支持的稳 ...

Core Viewpoint - The discussion revolves around the implications of stablecoins, particularly in the context of the US dollar's dominance and potential challenges posed by China's response to stablecoin developments [1][4][33]. Group 1: Stablecoin Applications and Implications - Stablecoins are increasingly used in cross-border transactions, especially in regions with strict capital controls and high inflation, such as Southeast Asia, Nigeria, Argentina, and Turkey [5][6][20]. - The issuance of stablecoins could enhance liquidity in capital flows, but it also raises concerns about potential negative impacts on China's economy and currency sovereignty [4][20]. - The current dominant stablecoins are primarily US-based, with 99% of the market share, raising questions about the competitiveness of a potential Chinese stablecoin [8][12]. Group 2: Regulatory Responses and Strategies - China is adopting a proactive approach to stablecoins, including pilot programs in Hong Kong, to explore their benefits in cross-border payments and to mitigate risks from US dollar dominance [4][12][33]. - Other countries, including the UK and EU, are also developing regulatory frameworks for stablecoins, reflecting a cautious stance towards their potential impact on financial markets [16][19]. - The UK is exploring a dual regulatory structure for stablecoins, while Japan maintains strict regulations requiring local issuance [17][19]. Group 3: Risks and Challenges - The potential for systemic risks associated with stablecoins could undermine the credibility of the US dollar, especially if significant market disruptions occur [20][22]. - The internal political dynamics in the US regarding stablecoin regulation may lead to increased uncertainty, affecting global confidence in the dollar [21][32]. - The fragmented regulatory landscape across different jurisdictions could exacerbate risks, as countries implement varying strategies to manage stablecoin impacts [19][20].

Core Viewpoint - The Bank of England is considering postponing the creation of a digital pound due to growing skepticism about the project's benefits [1] Group 1 - The Bank of England has been privately urging the banking sector to accelerate payment system innovations [1] - The aim is to achieve similar benefits without creating a central bank digital currency (CBDC) for consumers [1]

Core Viewpoint - The Bank of England is considering pausing its digital pound initiative due to increasing skepticism about the project's benefits, reflecting a global decline in enthusiasm for government-backed digital currencies [1] Group 1: Digital Currency Initiative - The Bank of England officials are contemplating a delay in the public rollout of the digital pound project [1] - There is a growing concern regarding the effectiveness and benefits of the central bank digital currency (CBDC) [1] - The central bank has privately urged the banking sector to accelerate payment innovations to achieve similar benefits without launching a CBDC [1] Group 2: Future Considerations - The Bank of England aims to retain the capability to launch a CBDC if necessary [1] - The central bank is willing to step back if the private sector continues to introduce new electronic payment technologies and if the perceived benefits of advancing the digital pound diminish [1]

Group 1 - Andrew Bailey, the Governor of the Bank of England, criticized Donald Trump's trade war, stating it harms global household interests and leads to economic fragmentation [1] - Bailey emphasized the need for countries to cooperate to address unsustainable trade and financial imbalances, particularly between the US and China, which account for nearly 40% of global current account imbalances [1][2] - He argued that unilateral imposition of rules by any single country is not a viable solution for achieving lasting stability in the global economy [1] Group 2 - Bailey pointed out that the US has a current account deficit and a significant budget deficit, supported by capital inflows due to the dollar's reserve currency status [2] - He suggested that a better approach to resolving trade issues is through multilateral institutions like the IMF and WTO to restore balance in trade and finance [2] - Bailey expressed skepticism about the future role of stablecoins and the necessity of a central bank digital currency, indicating a cautious stance on innovations in the banking sector [2]