Recently, the European Central Bank issued a warning, stating that the rapid development of the stablecoin market could pose a significant challenge to the effectiveness of monetary policy in the Eurozone. According to reports, the European Central Bank specifically highlighted the potential risks associated with the dominance of the US dollar in the stablecoin sector.

This warning highlights the profound impact that digital currency innovation has on the traditional financial system. The European Central Bank believes that the dollar-dominated stablecoin market could not only lead to an increase in European financing costs but may also undermine the European Central Bank's autonomy in monetary policy. Furthermore, this situation could exacerbate Europe's dependence on the American financial system.

The statement from the European Central Bank reflects the concerns of various Central Banks regarding the challenges posed by emerging financial technologies. As the use of stablecoins in global financial transactions becomes increasingly widespread, finding a balance between innovation and stability has become an important issue for regulatory authorities in various countries.

This warning has also sparked discussions about the formulation and implementation of monetary policy in the era of digital currency. In the future, central banks may need to adjust the existing monetary policy framework to address the challenges posed by new financial instruments such as stablecoins, ensuring the effectiveness of monetary policy and the stability of the financial system.