A former European Central Bank official urged the EU to prioritize the development of stablecoins over a digital euro.

CoinFeed reported on April 28th that, according to Cryptopolitan, a report co-authored by former European Central Bank Managing Director Ulrich Bindseil warns that the EU's MiCA regulatory framework is too stringent, weakening the global competitiveness of euro stablecoins and driving business outflows. The report urges policymakers to prioritize stablecoin strategies rather than relying on central bank digital currencies (CBDCs), which critics argue are "born dead." Meanwhile, euro stablecoins under the MiCA framework have grown by 1200% in 15 months, from $69 million to $777 million. Circle's EURC holds over 50% of the euro stablecoin market share, with transaction volume growing by over 1100%. A consortium of ten European banks, including BNP Paribas, ING, and UniCredit, plans to launch a euro stablecoin by mid-2026 through a new entity, Qivalis.