From Europe to the US: Your Bitcoin Passion Can Trigger a Global Financial Crisis! - Coin Bulletin

A European Central Bank(ECB) official said that the intense interest in cryptocurrencies, especially Bitcoin(BTC), by the United States could trigger a new global financial crisis.

François Villeroy de Galhau, Member of the Executive Board of the European Central Bank and President of the Bank of France, strongly criticized the US approach to cryptocurrencies in an interview with the French press. Particularly emphasizing the highly risky nature of encouraging policies towards Bitcoin and other crypto assets, Villeroy stated that the US administration carries the risk of making mistakes due to negligence. The ECB official, who expressed that the steps taken by the Trump administration in the US seriously threaten the financial system, argued that the regulations in Europe are much safer.

During last year's election campaign, Donald Trump, who gave positive messages to the cryptocurrency sector, took radical steps in the US's policies towards digital assets with his reelection. Trump, upon taking office, signed an executive order for the establishment of a Strategic Bitcoin Reserve and announced that a separate reserve would be created for cryptocurrencies other than Bitcoin.

Villeroy also pointed out the need for Europe to strengthen the euro against the US's trade policies. Emphasizing the importance of the euro being a stronger alternative to the dollar in global financial markets, Villeroy said, 'We need to attract more investors to increase the role of the euro on the international stage.' The ECB official also added that strengthening the euro is critical for Europe's economic independence.