EU worries US embracing crypto could impact Europe financial stability

Euro zone finance ministers are worried that the change of policy under the new US administration to embrace cryptocurrencies could affect euro zone monetary sovereignty and financial stability, top officials said on Monday.

Last week, US President Donald Trump, who vowed to be a “crypto president” in his campaign, signed an executive order to establish a strategic reserve of cryptocurrencies by using tokens already owned by the government, in a policy pivot from the previous administration.