ECB’s Villeroy warns US crypto support could lead to next financial disaster
Jamie Crowley | Edited by Steven Alpher on March 17, 2025, 13:00 UTC
François Villeroy de Galhau, a member of the Governing Council of the European Central Bank (ECB) and the head of the Bank of France, said that the introduction of cryptocurrency in the United States could lead to the next financial disaster.
The US “could make a mistake out of carelessness,” Villeroy said in an interview with the French newspaper La Tribune Dimanche.
“By stimulating crypto assets and non-bank financing, the US government is sowing the seeds of future crises,” he added, emphasizing that regulation of the crypto industry in Europe is more reliable.
Donald Trump has been a vocal supporter of the cryptocurrency industry as part of his campaign to return to the White House last year, and as president, he signed an executive order creating a strategic reserve for bitcoin and a separate storage facility for other digital assets.
Villeroy also noted that Europe needs to attract more international investors to the euro to help the currency take on a more significant role on the international stage in the face of President Trump’s tariff policies.
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