ECB board member: EU should focus on digital euro in light of Trump’s EO

European Central Bank (ECB) board member Piero Cipollone has reiterated his call for E.U. banks to adopt a digital euro following U.S. President Donald Trump’s signing of an executive order (EO) on cryptocurrencies, Cointelegraph reported. Trump previously signed an executive order that enables the development of a federal regulatory framework for digital assets, including stablecoins. It also provided for the launch of a working group to promote legal dollar-backed stablecoins worldwide. Cipollone said that this could potentially lead many investors to move away from financial institutions and toward digital solutions, and that’s why he thinks there’s a need for a digital euro.