PANews reported on August 22nd that the Financial Times reported that EU officials are accelerating planning for a digital euro, citing sources familiar with the matter. A new US stablecoin bill has sparked concerns about the competitiveness of European digital currencies, prompting them to report that the US government is accelerating its efforts to develop a digital euro. Last month, the US Congress passed the Genius Act, a landmark law regulating the $288 billion stablecoin market, which is primarily dominated by the US dollar. A person involved in the discussions stated that EU officials have been "rethinking plans for a digital euro" since the bill's passage. The person familiar with the matter added that, due to privacy concerns, officials are currently considering running the digital euro on public blockchains such as Ethereum or Solana, rather than the previously anticipated private blockchain.