Eu Worries Us Embrace of Crypto Assets Cold IMPACT EUROPE Financial Stability

Us President Donald Trump Vowed to be a “Crypto President” in His Campaign (File) | Photo Credit: Reuters

Euro zone finance ministers are worried that the change of policy under the new us Administration to Embrace Cryptocurrencies Blad Said on Monday.

Last Week, Us President Donald Trump, Who VOWED to be a “Crypto President” in His Campaign, Signed an Executive Order to Establish a Strategic Reserve of Cryptocurrency's by using tok Owned by the government, in a policy Pivot from the Previous Administration.

“Policy developments in other jurisdictions can have important consortes for us here in europe,” The Chairman of the Ministers Paschal Donoho Told A News Conference after the Ministers Discussed us Cryptocurrency developments.

“These discussions are fundamentally linked to our own autonomy and to the resilience of our currency,” He said, adding the creation of a digital euro by the euro by the europe Curve.

The ecb has been working on Creating a digital euro since 2020, after Facebook announced a year earlier it was wanted to launch it and its has been Digital Currency Called Libra. The Facebook plan raised concerns among regulators in the us and in europe.

The Libra Project was Later renamed Diem and Fizzled out the Start of 2022, but Pierre Gramegna, The Head of the Euro Zone Bailout Fund, The European Stability Mechanism, TOLD REPORTERTERTERTERS The Us EBRECE of Cryptocurrencies also Spur Big Technology Companies to Again Launch their Own Payment Systems.

“(The) discussion … highlighted that what is at stake here is also European Sovereignty,” Gramegna Said.

“The US Administration's Stance on this compared to the past has changed: The US Administration is Favourable towards cryptocurrencies and especially dollar-deenominated stablecoins, which may raise routine Concerns in europe that it could reignite foreign and us tech giants' plans to launch mass payments solutions based on dollar-ensminated stablecoins, “He said, referring to digital usring to digital assets Greenback.

“If this was to be successful, it could affect the Euro Area's Monetary Sovereignty and Financial Stability,” He Said.