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Trump and the digital euro: a new thrust for Europe's monetary policy?
Trump plans crypto boost for digital euros by 2030, says ECB director Cipollone. Political processes could cause time delays.
Trump and the digital euro: a new thrust for Europe's monetary policy?
The political waves are high: Ex-President Donald Trump's ambitions in the field of cryptocurrencies could drive the introduction of a digital euro, according to Piero Cipollone, a high-ranking member of the European Central Bank. According to krone.at , the attention that Trump's project attracts could accelerate the legislative process in the EU. In his endeavor to become the first "crypto president", Trump announced that it would promote the possession of digital assets and to be abolished strict regulations.
digital means of payment on the advance
The digital euro, a digital currency planned by the ECB, is to be introduced by 2030. This includes a digital means of payment that can manage citizens through digital wallets (wallets). By the end of the year, the central bank would like to have clarified fundamental questions in order to make a decision for the next step by November 2025. This project is intended to make Europe more independent of US providers such as PayPal and Visa, while at the same time it is ensured that payment transactions are not completely left to the private sector.
At the same time, Cipollone, who also served as Trump's former advisor, is in the focus of a large -scale investigation by the Ministry of Justice on the events around January 6, 2021. href = "https://www.nbcnews.com/politics/justice-department/former-hite-house-cipollone-cipoenaed-ublel-grand-jury-inv-rcna41326"> NBC News . The investigation aims to shed light on Trump's actions in the run -up to the capitals, whereby Cipollone is considered the key witness. He had already testified for over seven hours behind closed doors as part of the examination of the House of Representatives.These two developments - the possible introduction of a digital euro and the legal challenges that Trump and his consultants face - illustrate the growing pressure on political actors in the USA and Europe. The digital euro could be an answer to the challenge of the cryptocurrencies from America, while Cipollone's legal situation is testing unity and the rule of law in the country.