Person

Piero Cipollone

Executive Board member, European Central Bank

2 articles · 9 July 2025 to 12 August 2025

What we have reported

Warned of destabilising effects from digital dollarisation, particularly on emerging markets.
Warned the European Parliament of a looming risk of currency substitution if dollar stablecoins gain traction in Europe.

Coverage

2 of 2 in the archive

Europe

Dollar stablecoins surge to $255bn as ECB warns of monetary sovereignty risk

ECB officials say near-total dollar dominance in fast-growing stablecoin market threatens euro's international role and could weaken central bank control over monetary conditions in the eurozone.

Marek Jankowski12 August 20257 min read

Business

US stablecoin law threatens euro's role as dollar finds new digital leverage

The Senate-passed GENIUS Act creates a regulated framework for dollar stablecoins that could deepen global dollar demand while Europe's digital euro remains years away and limited in scope.

Tomás Lindqvist9 July 20258 min read

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