François Villeroy de Galhau: Trump's pro-crypto policy could conjure up the next global financial crisis

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Villeroy de Galhau warnt vor Trumps Krypto-Politik: Risiken für die Finanzstabilität Der Gouverneur der französischen Zentralbank, François Villeroy de Galhau, hat Alarm geschlagen in Bezug auf die Unterstützung von US-Präsident Donald Trump für Kryptowährungen. Er äußerte Bedenken, dass die gegenwärtige Politik der US-Regierung die Grundlagen für die nächste globale Finanzkrise legen könnte. Villeroy de Galhau wies darauf hin, dass Finanzkrisen häufig ihren Ursprung in den Vereinigten Staaten finden und sich dann weltweit ausbreiten. Trumps pro-Krypto-Haltung entfaltet sich im Vorfeld der Präsidentschaftswahl im November 2024 und bezieht sich auf Initiativen zur Förderung digitaler Vermögenswerte. Diese Politiken scheinen nicht nur für seine …
Villeroy de Galhau warns of Trump's crypto policy: Risks to the fifth stability of the Governor of the French Central Bank, François Villeroy de Galhau, has raised alarm with regard to the support of US President Donald Trump for cryptocurrencies. He expressed concerns that the current policy of the US government could lay the foundations for the next global financial crisis. Villeroy de Galhau pointed out that financial crises often originate in the United States and then spread worldwide. Trump's pro-crypto posture unfolds in the run-up to the presidential election in November 2024 and refers to initiatives to promote digital assets. These policies don't just seem to be for his ... (Symbolbild/KNAT)

Villeroy de Galhau warns of Trump's crypto policy: Risks to financial stability

The governor of the French central bank, François Villeroy de Galhau, has raised the alarm in terms of support from US President Donald Trump for cryptocurrencies. He expressed concerns that the current policy of the US government could lay the foundations for the next global financial crisis. Villeroy de Galhau pointed out that financial crises often originate in the United States and then spread worldwide.

Trump's pro-crypto posture unfolds in the run-up to the presidential election in November 2024 and refers to initiatives to promote digital assets. These policies not only seem to be important for its re -election, but they could also cause serious economic disorders. In an interview with local media, Villeroy de Galhau expressed that the promotion of crypto-assets and non-bank-financed transactions through the US government could result in questionable consequences.

The criticism of Villeroy de Galhau follows Trump's latest arrangement to create a strategic bitcoin reserve and to provide digital assets. Financial experts have classified this step as potentially destabilized, especially in view of a significant decline in market, which was triggered by this arrangement. The Bitcoin course fell less than $ 85,000 last week, which led to liquidations worth $ 250 million in the crypto market and the inherent volatility of digital assets put into the spotlight.

In addition, Trump plans to reverse regulatory politics "Operation Choke Point 2.0", which limits banks to access crypto companies. Critics argue that the abolition of this regulation could suspend banks and investors considerable risks. Peter Schiff, a well-known skeptic of Bitcoin, is among those who question Trump's pro-crypto rhetoric. He described Trump's Bitcoin strategy as "the greatest crypto fraud ever" and warned of the potential risks for the market and investors.

A recently carried out survey shows that the majority of US voters reject Trump's suggestions for a national Bitcoin reserve. Many citizens fear that tax money could be wasted for a highly volatile and uncertain asset, especially in view of the current market instability.

In the meantime, de Galhau emphasized the need for Europe to strengthen its financial protective measures in order to avoid possible negative effects of US policy. He calls for a strong savings and investment union to attract international investors and emphasized the importance of a stable role of the euro on the global market.

The uncertainty and volatility in the cryptosector remains, while Trump's crypto policy continues to influence the financial sector. The international community remains divided about the possible effects of these changes, and the discussion about the future of cryptocurrencies in the national economies is far from over.