📌 ECB members doubt digital euro after Trump’s cryptocurrency mandate
– European Central Bank (ECB) executive board member Piero Cipollone has reportedly reiterated his call for EU banks to adopt the digital euro after U.S. President Donald Trump signed an executive order that could affect the stable coin.
Reuters, Jan. 24. Cipollone said in a report that President Trump’s executive order to strengthen U.S. leadership in digital financial technology could cause residents to abandon financial institutions in favor of digital solutions.The executive order, signed on Jan. 23, is a key step toward stable
I think the key word here is ‘worldwide,’ Cipollone said, according to Reuters. This decision, as you all know, will cause further disruption to banks.
Cipollone is one of the most vocal supporters of the digital euro, which the ECB is considering introducing. The digital currency project is currently in the preparation stage, with a decision on its launch expected in October 2025.
Since President Trump’s inauguration on January 20, many of his executive orders have been the subject of numerous lawsuits challenging their legality, so all aspects of President Trump’s executive orders will go into effect remain unclear. In addition to encouraging stable coins, the executive order could prohibit the creation of a U.S. Central Bank Digital Currency (CBDC) and direct a working group to study the feasibility of creating and maintaining a national stockpile of cryptocurrencies.
It is worth noting that President Trump’s executive order, if enacted as written If the executive order is enacted as written If the executive order is enacted as written, employees of the Federal Reserve and the Federal Deposit Insurance Corporation (FDA) will not be able to be members of the cryptocurrency working group because the founder and gen She argues that these institutions were excluded because.