The actions of the United States have raised concerns in the European Union. The "Genius Act" was signed into law by President Trump in July of this year, establishing the first comprehensive rules for a $288 billion stablecoin market. Under this law, issuers of dollar-pegged coins must maintain sufficient liquid asset reserves, fulfill licensing obligations, and comply with strict reporting standards. Supporters argue that this framework enhances consumer protection while leaving room for innovation, a balance that regulators have long struggled to achieve. The rapid actions of the United States have alarmed European politicians, who have previously advanced their own projects more cautiously. According to the Financial Times, insiders say that this shift in the EU began after the United States approved the "Guidance and Establishment Act for National Innovation in Stablecoins" (, also known as the "Genius Act" ).