The minister of economy and finance in Italy has warned that US stablecoin policies are more concerning than President Donald Trump’s tariffs, citing the potential for these crypto assets to undermine the euro’s dominance in cross-border payments.
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The minister of economy and finance in Italy has warned that US stablecoin policies are more concerning than President Donald Trump’s tariffs, citing the potential for these crypto assets to undermine the euro’s dominance in cross-border payments.
According to a Reuters report, Giancarlo Giorgetti while speaking at an event in Milan, said that while trade tariffs dominate headlines, new US policies on dollar-backed stablecoins present an “even more dangerous” threat to European financial stability.
Giorgetti said, that the US stablecoins will allow users to invest in a widely accepted method for cross-border payments without opening a US bank account. He also warned that the growing appeal of US stablecoins to Europeans should not be underestimated.
Meliuz, a Brazilian fintech firm has come up with a plan to expand its Bitcoin holdings and make cryptocurrency a strategic asset on the company’s books.
According to a translated April 14 statement, Meliuz, which provides cashback and financial technology services, is making plans to make Bitcoin BTC$83,940 the primary strategic asset in the firm’s treasury to shareholders in a meeting slated for May 6.
The company according to Cointelegraph has said its core business will remain unchanged, but “the generation of cash from operations is fundamental to the strategy of acquiring more Bitcoin over time.”
If shareholders approve the measure, Bitcoin will be adopted as the firm’s main strategic treasury asset, but it will also look to foster “the incremental generation of Bitcoin for its shareholders, whether through the generation of operating cash or through possible financial transactions and strategic initiatives.”
GameStop, a convincing game retailer is set to add Bitcoin to its balance sheet, Strive Asset Management CEO Matt Cole has now set his sights on fintech firm Intuit to do the same.
In an April 14 open letter to Intuit CEO Sasan Goodarzi, Cole said that Intuit’s growth is admirable, but Bitcoin BTC$83,970 is the best way to ensure the company’s long-term success and hedge against any potential disruption caused by artificial intelligence.
According to Cointelegraph, Quickbooks, a small business accounting program, and TurboTax, a tax preparation app, are Intuit's flagship products. Cole stated that the company needs an extra hedge because TurboTax is at risk of being automated away by AI. In July, the company laid off 10% of its employees to pursue its AI endeavors.
“While we appreciate Intuit’s own investments and internal implementation of AI, we believe an additional hedge is warranted, and that a Bitcoin war chest is the best option available,” Cole said.