Eurozone finance ministers discuss response to US cryptocurrency policy

On March 10th local time, finance ministers from Eurozone member countries held a meeting. During the meeting, in addition to discussing the macroeconomic development of the Eurozone and coordinating Eurozone budget policies, they also focused on how to respond to the cryptocurrency policy of the US Trump administration. US President Trump recently stated that the federal government will support the development of cryptocurrencies represented by Bitcoin and their digital asset markets. Last year, Trump even claimed during his campaign that he wanted to make America a superpower in Bitcoin and a global capital for cryptocurrencies. In response, EU officials are concerned that the spread of cryptocurrencies could potentially undermine the authority of euro as a medium of exchange, thereby weakening its position in market and making it play an increasingly marginal role in an online payment world which is becoming more prevalent.