Top Official Warns of Trump’s ‘Crypto Policy’ Risks for the EU

The efforts of U.S. President Donald Trump’s administration to support cryptocurrencies could undermine the monetary sovereignty of the EU, according to Pierre Gramegna, Managing Director of the ESM.

He stated that the U.S. stance on cryptocurrencies, particularly dollar-pegged stablecoins, raises serious concerns.

Gramegna noted that the American administration’s support for such assets could trigger the rise of tech giants offering mass payment solutions based on dollar “stablecoins.”

The politician emphasized that the launch of a digital euro is becoming “more relevant than ever” to maintain “Europe’s strategic autonomy.”

The ECB is actively working on creating a digital euro. According to a press release, the regulator will present a detailed roadmap for the launch of the national currency next quarter, including the preparation of rules and testing.

However, EU lawmakers expressed doubts about the launch of the digital euro amid a failure in the ECB’s payment system.

Since Donald Trump’s election, there has been a strengthening of pro-cryptocurrency policy in the U.S. Last week, the U.S. president signed an order to create a strategic reserve in bitcoin and other digital assets.

Earlier, on March 7, the White House hosted the first crypto summit, dedicated to changing the U.S. government’s approach to the industry.