Trump Cripto Push could harm the financial stability of Europe: a top official EU official

Finance officials in the European Union are concerned with US President Donald Trump’s Hug of Digital Property could affect cash sovereignty in Europe and financial stability.

“The American administration is affordable according to cryptocurrencies, especially stablecoins on the dollar, which can raise certain concerns in Europe, the” European Stability Mechanism (ESM), said in Eurogroup press conference 10. Marta.

Gramegna warned that American CRIPTO Pivot “in the end could eventually initiate mass decisions to pay on the dollar”, “adding” and if it could be affected by the monetary sovereignty of the euro area. ”

ESM “supports ECB urgency in creating digital euros of reality for the protection of Europe’s strategic autonomy – this digital euro is needed today,” he added.

The ESM is an intergovernmental organization established by the Member States of the Euro Area, the countries of helping prevail financial crises and maintain long-term financial stability and prosperity.

“Policy development in other jurisdictions can have important consequences for us here in Europe,” the Irish Minister of Finance Pashal Donohoe agreed.

“These discussions are basically related to their own autonomy and resistance to our currency,” he added, stating that the digital currency of the European Central Bank (CBDC) is now crucial for staying in front of the curve.

In February, the European Central Bank said it was dissemination Development of its CBDC payment system for solving transactions between institutions. ECB was CBDCS Research From 2020. year, including a retail digital euro and a wholesale partition settlement between central banks.

Meanwhile, Trump spoke against the Federal Reserve CBDC, Signing an executive order In January to establish crypto working groups while prohibiting “establishment, issuing, circulation and use of” US CBDC.

Related: Cripto Academics Slam CONTROVER ECB PAPIRNAT BITCOIN

ECB also has rejected the idea Adds Bitcoin (Btc) to monetary reserves or enabling other European central banks to do so.

At the end of January, the President of the ECB Christine Lagard said that the reserves of central banks must be “fluent, safe and safe”, they mean not to include crypto funds.

She added that she was “safe” that Bitcoin would not enter bank reserves in the European Council.

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