ECB official Francois Villeroy de Galhau expressed concerns over Donald Trump's crypto policies, potentially causing global financial instability.
ECB Warning on Trump's Crypto Policy
Francois Villeroy de Galhau, Governor of the Bank of France and ECB Governing Council member, warned about the potential consequences of U.S. crypto policies under Donald Trump, noting the U.S. risks neglecting the associated risks with strong support for crypto-assets.
Trump's Strategic Crypto Moves
Since Trump's return to power, he has taken steps to make the U.S. the 'crypto capital of the world'. On March 7, David Sacks announced that Trump signed an executive order to establish a Strategic Bitcoin Reserve, funded without taxpayer money.
International Reaction and Potential Consequences
Villeroy expressed concerns that U.S. support for crypto could trigger a financial crisis, echoing past instances. This stance is supported by ECB President Christine Lagarde, who has criticized Bitcoin and decentralized finance.
ECB and IMF officials continue to express concerns about U.S. crypto policies, warning of potential global economic risks.
