Donald Trump certainly knows how to stir things up, and his pro-crypto plans are making the Ministers of Economic Affairs in the Eurozone nervous. According to a report from EUnews.it, this hot topic is on the agenda for the Eurogroup meeting on March 10th. “Well-informed sources” indicate that the new US administration is fully on board the crypto train – and the EU is not pleased. Why? It could cause problems for the Eurozone and the Euro itself.
This negativity is not a minor issue, insiders say. It’s about stability and sovereignty, and Trump’s crypto moves hit our payment landscape right at its heart. An EU source sums it up sharply: “We need to prevent these kinds of initiatives from undermining our stability and independence.” In short, the EU is feeling the heat from Trump’s policy and doesn’t want to be left behind.
The EU is not standing still. With the Markets in Crypto-Assets Regulation (MiCA), they have been trying for years to curb the advance of dollar-stablecoins. Meanwhile, the European Central Bank (ECB) is working hard on a digital euro to keep the currency relevant and strong in a digital world, although this also raises doubts among European legislators. However, ECB board member Piero Cipollone left no doubt: this is a direct response to Trump’s crypto offensive. The EU wants to chart its own course and not become dependent on America’s digital dollar party.
Trump’s crypto-friendliness is shaking things up, and the Eurogroup is facing a tough discussion. Will this weaken the euro, or will the EU strike back with a digital bang? What do you think – will the digital euro be our salvation, or is Europe lagging behind the facts?
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