France’s central bank governor François Villeroy de Galhau has issued a stark warning, claiming that Donald Trump’s pro-crypto policies could trigger a global financial crisis. Speaking in a recent interview, Villeroy de Galhau cautioned that the U.S.
administration’s push for deregulation in the crypto sector might sow the seeds for economic instability, echoing past financial crises that originated in the U.S. and rippled across global markets.
Highlighting historical downturns such as the Great Depression and the 2008 financial crisis, Villeroy de Galhau argued that Trump’s crypto-friendly stance poses a significant threat. His remarks come amid broader European concerns that the U.S. may be relinquishing control over non-bank financial institutions, including crypto asset markets. The French governor has been a vocal critic of Trump’s deregulation efforts, warning that unchecked crypto expansion could destabilize global financial systems.
Beyond France, the European Union has also expressed growing unease about Trump’s policies. Pierre Gramegna, managing director of the European Stability Mechanism, recently pointed out that the U.S. administration’s support for crypto, particularly dollar-backed stablecoins, may undermine Europe’s monetary control. Critics, including journalist Zack Guzmán and former White House Communications Director Anthony Scaramucci, have also raised concerns, with Scaramucci labeling Trump’s approach as "Idi Amin-level corruption."
Despite these criticisms, some financial institutions support Trump’s Strategic Bitcoin Reserve, arguing that it could strengthen the U.S. economy. However, Europe has positioned itself as a leader in crypto banking, surpassing the U.S. in integrating digital assets with traditional finance. As Trump’s crypto policies continue to evolve, global regulators remain wary of their long-term impact on economic stability.
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