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ECB member doubles down on digital euro after Trump’s crypto EO: report

Piero Cipollone reiterated the importance of a digital euro following Trump’s executive order on digital financial technology, indicating that it may lead residents to seek alternatives to conventional banks, thereby emphasizing the urgent need for a digital euro.

The digital euro project is currently in its preparation phase, with a decision expected by October 2025. Cipollone’s statements reflect concerns that banks could lose clients and fees if digital solutions gain traction among users.

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