Eurozone finance ministers have voiced concerns that the US administration’s policy shift toward embracing cryptocurrencies could impact the eurozone’s monetary sovereignty and financial stability, top officials remarked on Monday.
Recently, US President Donald Trump, who campaigned on a promise to be a “crypto president,” signed an executive order to create a strategic reserve of cryptocurrencies using tokens already held by the government, marking a shift from previous policies.
“Developments in other jurisdictions can have significant implications for us in Europe,” stated Paschal Donohoe, chairman of the finance ministers, during a news conference following discussions on US cryptocurrency policies.
“These discussions are closely tied to our autonomy and the resilience of our currency,” he noted, emphasizing the importance of the European Central Bank’s efforts to create a digital euro to maintain a competitive edge.
