ECB Executive Board Member Panetta: Trump's executive order on cryptocurrencies encourages banks to participate

ChainCatcher news, according to Jinshi reports, ECB Executive Board member Panetta stated that the cryptocurrency executive order proposed by Trump will encourage banks to participate in the field, but it is still too early to assess specific actions in the U.S.

Panetta emphasized that the differences in regulatory approaches between the U.S. and Europe pose challenges, and Europe needs to avoid over-regulation while warning against competition in loosening regulations. She also mentioned that there is room for simplification in the banking regulatory framework.