Banque de France blasts Trump’s pro-stablecoin order, cites urgent need for digital euro

A high French central banker warned that American policy changes promoting stabls could erode European monetary sovereignty in the absence of a digital euro.

Denis Beau, the first sub-government of the bank of Francewarned that the Donald Trump The recent decree of the administration promoting the sustained dollar stable poses “concrete negative consequences” for Europe’s financial sovereignty and has called for an urgent progress on a Digital euro.

In a speech Last week, Beau noted that the dxecif orderSigned by US President Donald Trump at the end of January, prohibits all work related to the development of a new form of Central Bank digital currency, promotes the development of dollar supported staboins and encourages citizens and businesses to use public blockchains.

He warned that “without a payment solution based on the money from the central bank”, private and non -European alternatives could dominate token finance.

“If the tokenization of financial assets was to collect a rate, the absence of a payment solution from the central bank in Euro could therefore threaten the role of money from the central bank such as the anchoring of the monetary architecture of the euro zone, with concrete negative consequences.”

Denis Beau

The first sub-government of the Banque de France linked this tendency to increase the risk of compensation and liquidity, increased fragmentation of the regulations and, ultimately, a “loss of sovereignty and a weakening of financial stability”.

Beau added that Trump’s new political leadership “strengthens the need for Europe to preserve its monetary sovereignty, which means developing its payment sovereignty”. He also noted that Apple Pay and Google Wages have already established a good basis in Europe, while European payment systems remain fragmented and regularly lose market share.