ECB Raises Alarm Over US Crypto Influence and Impact on Eurozone Stability

The European Central Bank (ECB) is sounding the alarm over the potential impact of increased U.S. support for cryptocurrency, particularly under a potential Trump administration, on the financial stability of the Eurozone. The ECB’s primary concern lies with the growing use of USD-backed stablecoins in Europe. These stablecoins are causing significant unease as they could potentially weaken the Euro and erode European financial control.