On June 1, The Block reported that Isabel Schnabel, a member of the European Central Bank's Executive Board, stated that the rapid development of stablecoins poses risks to financial stability, the transmission of monetary policy, and the international monetary system. Central banks should respond by strengthening regulation and advancing the construction of central bank digital currencies (CBDCs). She believes that the digital euro is crucial for maintaining the anchoring role of central bank currencies. The global market capitalization of stablecoins has approached $300 billion, with Tether USDT and USD Coin USDC together accounting for about 90% of the market share. Dollar-denominated stablecoins are further reinforcing the dominance of the dollar in the global financial system through network effects, potentially amplifying the transmission of U.S. monetary policy globally, while euro stablecoins remain on the periphery. Additionally, Schnabel stated that Europe should not resist financial innovation but should ensure that innovation develops within a framework that maintains financial stability, monetary control, and public trust. She believes that the digital euro can not only ensure the public continues to access central bank money but also reduce Europe's dependence on non-European payment service providers, enhance European financial autonomy, and provide Europe with a unified payment solution with legal tender status.