{"id":22131,"date":"2025-03-17T13:14:56","date_gmt":"2025-03-17T11:14:56","guid":{"rendered":"https:\/\/forklog.com\/en\/ecb-member-warns-us-of-cryptocurrency-policy-risks\/"},"modified":"2025-03-17T13:14:56","modified_gmt":"2025-03-17T11:14:56","slug":"ecb-member-warns-us-of-cryptocurrency-policy-risks","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ecb-member-warns-us-of-cryptocurrency-policy-risks\/","title":{"rendered":"ECB Member Warns US of Cryptocurrency Policy Risks"},"content":{"rendered":"<p>The United States&#8217; approach to cryptocurrency and non-bank financing could lead to another financial catastrophe, according to <a href=\"https:\/\/www.latribune.fr\/la-tribune-dimanche\/dimanche-eco\/francois-villeroy-de-galhau-gouverneur-de-la-banque-de-france-il-vaut-mieux-aujourd-hui-etre-europeen-qu-americain-1020684.html\">Fran\u00e7ois Villeroy de Galhau<\/a>, a member of the governing council of the <span data-descr=\"European Central Bank\" class=\"old_tooltip\">ECB<\/span>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The United States risks erring through negligence. Financial crises often begin in the US and then spread globally. By supporting crypto-assets and non-bank financing, the American administration is laying the groundwork for future upheavals,&#8221; he emphasized.<\/em><\/p>\n<\/blockquote>\n<p>Villeroy de Galhau noted that the European regulatory system is more stable, and there is no risk of a banking crisis in the Eurozone.<\/p>\n<p>He also called for strengthening the euro&#8217;s role on the international stage. According to Villeroy de Galhau, Europe needs to &#8220;create a powerful savings and investment union capable of attracting international investors to the currency.&#8221;<\/p>\n<p>In March, US President Donald Trump fulfilled a campaign promise and <a href=\"https:\/\/forklog.com\/en\/news\/trump-establishes-u-s-strategic-bitcoin-reserve\">signed an order<\/a> to establish a strategic reserve of bitcoin and other digital assets.<\/p>\n<p>Earlier, ECB advisor J\u00fcrgen Schaaf <a href=\"https:\/\/forklog.com\/en\/news\/ecb-adviser-deems-bitcoin-unsuitable-for-national-reserves\">stated<\/a> that the first cryptocurrency is unsuitable for national reserves due to its high volatility, lack of real economic value, and susceptibility to manipulation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The United States&#8217; approach to cryptocurrency and non-bank financing could lead to another financial catastrophe, according to Fran\u00e7ois Villeroy de Galhau, a member of the governing council of the ECB. &#8220;The United States risks erring through negligence. Financial crises often begin in the US and then spread globally. By supporting crypto-assets and non-bank financing, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1410,1138,26],"class_list":["post-22131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ecb","tag-opinions","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=22131"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22131\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/22130"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=22131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=22131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=22131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}