EU Senior Official: Trump's policy of supporting digital assets could affect European monetary sovereignty and financial stability

The Managing Director of the European Stability Mechanism (ESM), Pierre Gramegna, stated at a Eurogroup press conference that US President Trump's policy supporting digital assets could potentially impact Europe's monetary sovereignty and financial stability. Gramegna warned: "The U.S. government supports cryptocurrencies, especially stablecoins pegged to the dollar, which may raise some concerns in Europe. This could rekindle plans by foreign and American tech giants to launch large-scale payment solutions based on dollar-pegged stablecoins. If these plans succeed, they will affect the monetary sovereignty and financial stability of the euro area." Irish Finance Minister Paschal Donohoe also agreed, saying "policy developments in other jurisdictions could have significant impacts on Europe," emphasizing that a Central Bank Digital Currency (CBDC) is crucial for maintaining competitiveness. Meanwhile, Trump has explicitly opposed the Federal Reserve issuing CBDCs and signed an executive order establishing a cryptocurrency task force in January this year while prohibiting "the establishment, issuance, circulation and use" of U.S CBDCs. The European Central Bank has also refused to include Bitcoin in its currency reserves.