In the meantime, Europe is going exactly the opposite way, promoting the digital Euro instead of stablecoins, which are seen as a prevarication of the private sector into the government field.
In this way, the Euro is doomed to irrelevance in the global economy. The point is this is going to weigh on the European economy, which is not exactly flourishing right now.
Not only is it about promoting digital euros instead of stablecoins, but I think one of the main goals of the crypto space is to protect privacy, and they are not taking it in a good way, such as banning mixers or jailing those who were involved in this.
Although they are doing these things to prevent money laundering, but I think they should prioritize privacy by taking alternative measures not just banning on these.
So, like you, I think that Europe's indifference to crypto will make it an economic slave to the USA.