The European Central Bank says President Trump can blow up the European economy by embracing encryption: Report

It is said that the European Central Bank (ECB) is pressuring the update of the regulation of the encryption market in the European Union, amid fears that US President Donald Trump’s position on digital assets can display the economy in the region.

According to Politico’s policy paper, the Central Bank believes that Trump’s “luxurious support” for the American encryption sector may cause a financial infection that can blow up the European economy.

Politico Reports European officials are concerned that many of the main financial market reforms that Trump described will offer efforts to renew the financial sector of the European Union.

Basic concern is digital assets of the digital assets that most of them are exposed to dollars.

The dollar -backed symbols are expected to rise more after an executive order for the White House to enhance the encryption sector. American lawmakers also study a pair of regulatory laws in Stablecoin.

While the European Union markets in the regulation of encryption assets (MICA) can theoretically prevent foreign exchange -backed stability from disrupting the European economy by limiting the issuance of these assets, European Central Bank officials have suggested that the legal framework cannot resist the infiltrated surface effects of America.

European Central Bank President Christine Lagarde and digital payments, Caesar Pierou Seboloni, said that increasing the assets offered by the dollar in Europe can wander in savings in the United States.

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