The ECB correctly identifies the threat posed by dollar-denominated stablecoins to the euro. 🇪🇺🎯 However, as is often the case in the EU, the proposed solution is the wrong one (why do they never seem to learn?). ❌ Instead of letting the market work out a solution to the problem at hand, they propose a top-down solution created by bureaucrats. A solution that everyone will be forced to implement, regardless of whether they want to or not, including banks, businesses, etc. A solution with high implementation costs for those involved. Let's be realistic here, if euro-denominated stablecoins cannot compete against dollar-denominated ones, a digital euro will be even less likely to succeed. Maybe if the euro cannot compete against stablecoins, it is not meant to be. If you truly want to reduce dependence on the US dollar and dollar-denominated stablecoins, there is ultimately only one realistic choice. The ECB blogpost dismisses this option, mentioning it only as something that 'lacks both intrinsic value and redeemability': Bitcoin ₿. It is global money, neutral, controlled by no one, no country, no individual. 🌐 It may not protect the euro from becoming irrelevant, but it would future-proof European economies. 🛡️ It is time to replace the bureaucratic hammer with math. This is the 21st century, after all, the digital age.(Dr. Jan Wüstenfeld)