ESM chief warns Trump’s crypto policies pose risk to EU monetary sovereignty
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Publish date
Mar 10, 2025 - 12:00am
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CryptoSlate
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https://cryptoslate.com/esm-chief-warns-trumps-crypto-policies-pose-risk-to-eu-monetary-sovereignty/
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ESM Chief warned that U.S. crypto strategy could threaten Europe’s monetary autonomy
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Cipollone’s remarks followed the first crypto-related executive order signed by the US President on Jan. 23. This order prohibited federal agencies from pursuing a central bank digital currency (CBDC) and laid a framework to bolster the adoption of dollar-backed stablecoins worldwide.
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In response to these concerns, the ESM supports the European Central Bank’s (ECB) accelerated efforts to develop and implement a digital euro. It aligns with ECB board member Piero Cipollone’s remarks from Jan. 24, when he said that the central bank must accelerate the push for the digital euro to respond to Trump’s push to promote dollar-backed stablecoins globally.
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