François Villeroy de Galhau, Governor of the French Central Bank, has expressed concern regarding Donald Trump’s pro-crypto policies, warning of potential implications for the global economy.
Crypto Regulation and Trump's Stance
Donald Trump has made pro-crypto policy a key part of his re-election campaign, attracting supporters from the digital asset community. His administration has initiated plans that sparked controversy among financial experts. Recently, Trump announced the creation of a Strategic Bitcoin Reserve.
Market Risks and Concerns
Villeroy is concerned that the U.S. push for cryptocurrencies and non-bank financial services could disrupt global markets. The recent fall of Bitcoin’s price below $85,000 following Trump’s executive order highlights the volatility of crypto markets. Economist Peter Schiff criticized the Strategic Bitcoin Reserve.
European Reaction and Further Steps
Europe is adopting a cautious approach. Villeroy urges the EU to strengthen the euro’s global role and create a solid investment framework. He stresses the importance of decisive European action in response to U.S. financial policy.
Debate over digital assets continues, with divisions growing between those who see them as a path to innovation and critics worried about instability and excessive government intervention.
