According to Cryptocurrency and Business Law attorney Christina Carrascosa, Europe is late and there could be a wrong approach to implementing the digital euro.
Spanish analyzes the limitations of the project and, in his opinion, reveals why CBDC (Central Bank Digital) cannot compete with Stablecoins.
Carrascosa points out that the European Central Bank (ECB) main concerns include private emitters fragmenting the financial ecosystem, competition that stupid banks represent traditional banks, even more significant advantages of the dollar on the euro, and the limited connections of Europe in their global payment network.
but, Experts warn that these concerns overlook the fundamental aspects of today: “Money issuance has been working many years ago, but retail management is struggling with progressive liberalization, especially because of digitalization,” he says.
This makes Carrascosa suggest it Retail money management is no longer solely dependent on banks They also have no centralized emissions, but are liberalised thanks to digital processes, allowing an ecosystem with faster transfers, more flexible financial services and greater participation of private stakeholders. This, he argues, is the aspect that European regulations seem to be yet to be fully considered.
Another important point that lawyers stand out is the need to distinguish between assets and infrastructure. She said Europe has historically not developed infrastructure for retail payments, which has become a geopolitical disadvantage to the US.
“We’re worried about a lot about the Euro and Little to mount a good system that runs and distributes it,” he explained, highlighting it. Strategic competitiveness depends on technical capabilities. It’s not a factor in money, sovereignty or banking.
If concerns revolve around the strategic competitiveness of the sector, make sure you’re not wrong. Value is technical ability. It’s not money, sovereignty or banking. Better technology means better strategic positioning at the level of competitiveness in the infrastructure of commercial and payment services.
Cristina Carrascosa, corporate and cryptocurrency expert.
In this way, Carrascosa emphasizes that the retail digital euro does not solve the real problems of citizens. He asserts that its value focuses on financial strategies rather than direct usefulness for the public.
As for Stablecoins, Carrascosa believes these assets will operate on a more sophisticated and adaptable infrastructure than the digital euro.
He points out that, but there’s a story about Fear’s money in the intelligent contract. True advancements lie in payment infrastructure, management and transaction processing It’s already implemented.
“Yesterday I listened to the high status of Spanish authorities and stubcoins are not money, but stubcoins issued under Mica and Genius are as much money as you have in the bank.”
It should be noted that MICA (Cryptographic Market Regulation for the English Acronym) is a comprehensive regulatory framework for the European Union for cryptocurrency markets. This regulates the transparency, approval and supervision of transactions that include stable currencies.
For that part, Genius (Guonding and Endiventiventiventivent us for us) is a federal law in the United States that creates a full regulatory framework for payment stubcoins and requires support 1:1 with fluid reserves. It was approved by the House of Representatives in July 2025, as reported by Cryptonotics.
Digital Euros risk falling
Carrascosa emphasizes that assets and infrastructure need to be analyzed separately. For example, stable currencies are attracted to the ability to attract retailers and businesses to generate yield, programmability and speed in transfers, while technology infrastructure allows these devices to function efficiently and safely.
Experts warn that traditional regulators, including Europeans, do not see “centralized protocols must live with infrastructure developed by fully private companies, many of which operate on tokens.”
To explain this, he has confirmed that while Stablecoins is currently growing at a rate close to 30% trading volume, many suppliers still don’t have permission to process payments.
Finally, Carrascosa sources two possible roads in Europe. We quickly develop infrastructure that complements the existing ones Fíat Money, and work with private companies that are either promoting the distribution of Euro-backed stubcoins or already building competitive solutions at technical, regulatory and operational levels.
“The digital euro is not important, it’s not a citizen’s need and it won’t compete with stubcoins,” he said.
