The European Central Bank has released an unexpected statement about Trump's Bitcoin and Crypto Currency Orders! They seem to be panicked.

The European Central Bank (ECB) is accelerating efforts to launch a digital euro in response to the latest decree by the President of the United States, Donald Trump, aiming to globally support US-backed stablecoins.

ECB Executive Board member Piero Cipollone warned of the urgency of this move at a policy meeting held in Frankfurt today, highlighting potential disruptions in traditional banking systems.

Yesterday, President Trump signed an executive order prioritizing the dominance of the United States in digital financial technology. The order emphasized the need to maintain the sovereignty of the US dollar by promoting legal and legitimate dollar-backed stablecoins worldwide. Speaking at the 13th Future of the Financial Sector Conference of the Institute of Law and Finance, Cipollone expressed concerns about the potential impact of this strategy on the Eurozone.

Cipollone said, "I think the key word in Trump's decree is worldwide," and added, "This solution further disintermediates banks because they lose their fees, they lose their customers. That's why we need a digital euro."

The ECB envisages a digital euro as an online wallet operated by private entities like commercial banks, backed by the central bank but operated by private entities like commercial banks. This will allow users, including those without a traditional bank account, to make payments securely. However, individual holdings are likely to be restricted to prevent excessive liquidity shifts, and funds will not earn interest.

Cipollone highlighted the need to accelerate tests and legal approval in order not to fall behind in the global race for digital currency leadership. While the ECB is currently conducting trials on design and functionality, the final decision on implementation is subject to pending legislation in the European Union.

The Trump administration's executive order takes a different approach by explicitly banning the Fed from issuing its own central bank digital currency, (CBDC), and instead focuses on encouraging private sector innovation to strengthen dollar-backed stablecoins as a preferred alternative in global finance.

Cipollone warned that the efforts of the US to globally adopt stablecoins could further strain the region's financial systems by distancing customers from traditional European banks. He said, 'The need for a digital euro has never been more evident.'